https://www.taxtmi.com/caselaws?id=437226 The Tribunal found that the Principal Commissioner of Income Tax (PCIT) erred in exercising revisionary powers under Section 263, as the assessee had complied with tax deduction requirements under Section 194C. The Tribunal held that the assessment order passed under Section 143(3) was valid, as the Assessing Officer had made sufficient inquiries. The Tribunal also concluded that the assessee's compliance with Section 194C(6) sufficed, rejecting the PCIT's arguments. Ultimately, the Tribunal set aside the PCIT's order and restored the original assessment order, ruling in favor of the assessee. en-us Fri, 28 Apr 2023 00:00:00 +0530 Sat, 29 Apr 2023 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437226 The Tribunal found that the Principal Commissioner of Income Tax (PCIT) erred in exercising revisionary powers under Section 263, as the assessee had complied with tax deduction requirements under Section 194C. The Tribunal held that the assessment order passed under Section 143(3) was valid, as the Assessing Officer had made sufficient inquiries. The Tribunal also concluded that the assessee's compliance with Section 194C(6) sufficed, rejecting the PCIT's arguments. Ultimately, the Tribunal set aside the PCIT's order and restored the original assessment order, ruling in favor of the assessee. Case-Laws Income Tax Fri, 28 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437226