https://www.taxtmi.com/caselaws?id=438600 The Tribunal allowed the assessee's appeal, quashing the Principal Commissioner of Income Tax's order initiating proceedings under Section 263 of the Income Tax Act. The Tribunal found that the Assessing Officer had already rectified the initial order by adding the disputed amount to the income. The direction for a fresh assessment by the PCIT was deemed unjustified and would impose double jeopardy on the assessee. Consequently, the appeal was partly allowed, with other grounds considered academic. The decision was pronounced on 31/05/2023. en-us Wed, 31 May 2023 00:00:00 +0530 Mon, 05 Jun 2023 08:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438600 The Tribunal allowed the assessee's appeal, quashing the Principal Commissioner of Income Tax's order initiating proceedings under Section 263 of the Income Tax Act. The Tribunal found that the Assessing Officer had already rectified the initial order by adding the disputed amount to the income. The direction for a fresh assessment by the PCIT was deemed unjustified and would impose double jeopardy on the assessee. Consequently, the appeal was partly allowed, with other grounds considered academic. The decision was pronounced on 31/05/2023. Case-Laws Income Tax Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438600