https://www.taxtmi.com/caselaws?id=434964 The tribunal quashed the revision order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income-tax Act, 1961, as the PCIT failed to establish that the assessment order was erroneous and prejudicial to the interest of the revenue. The appeal of the assessee was allowed, and the tribunal concluded that no action under Section 263 was justifiable based on the facts and circumstances of the case. en-us Mon, 20 Feb 2023 00:00:00 +0530 Thu, 09 Mar 2023 08:37:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434964 The tribunal quashed the revision order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income-tax Act, 1961, as the PCIT failed to establish that the assessment order was erroneous and prejudicial to the interest of the revenue. The appeal of the assessee was allowed, and the tribunal concluded that no action under Section 263 was justifiable based on the facts and circumstances of the case. Case-Laws Income Tax Mon, 20 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434964