https://www.taxtmi.com/caselaws?id=436166 The tribunal upheld the revision-order passed by the Principal Commissioner of Income Tax (PCIT) under section 263, finding the assessment-order erroneous in allowing exemption under section 54F without declaring notional income from multiple properties. The tribunal remanded the matter for a fresh assessment by the Assessing Officer, emphasizing that its decision was a prima facie impression and should not influence the AO's decision on the merits. en-us Tue, 28 Mar 2023 00:00:00 +0530 Wed, 05 Apr 2023 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436166 The tribunal upheld the revision-order passed by the Principal Commissioner of Income Tax (PCIT) under section 263, finding the assessment-order erroneous in allowing exemption under section 54F without declaring notional income from multiple properties. The tribunal remanded the matter for a fresh assessment by the Assessing Officer, emphasizing that its decision was a prima facie impression and should not influence the AO's decision on the merits. Case-Laws Income Tax Tue, 28 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436166