https://www.taxtmi.com/caselaws?id=435594 The Tribunal found that the Assessing Officer (AO) had taken a plausible view after due inquiry and application of mind, and the order was not erroneous or prejudicial to the interest of revenue. Therefore, the invocation of Section 263 by the Principal Commissioner of Income Tax (PCIT) was deemed unjustified. The appeal of the assessee was allowed, the revision order under Section 263 was vacated, and the merits of the case were not addressed as it was not under adjudication. en-us Mon, 20 Mar 2023 00:00:00 +0530 Mon, 03 Jul 2023 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435594 The Tribunal found that the Assessing Officer (AO) had taken a plausible view after due inquiry and application of mind, and the order was not erroneous or prejudicial to the interest of revenue. Therefore, the invocation of Section 263 by the Principal Commissioner of Income Tax (PCIT) was deemed unjustified. The appeal of the assessee was allowed, the revision order under Section 263 was vacated, and the merits of the case were not addressed as it was not under adjudication. Case-Laws Income Tax Mon, 20 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435594