https://www.taxtmi.com/caselaws?id=439701 The Tribunal quashed the Principal Commissioner of Income Tax's revision order, ruling in favor of the assessee. The Tribunal held that the PCIT could not revise the assessment order under section 147 of the Income Tax Act as the issues raised were not part of the reassessment proceedings. It was determined that the reassessment order was not erroneous, rendering the PCIT's revision jurisdiction unjustified. The decision emphasized the importance of the scope of revision jurisdiction and the relevance of issues raised in reassessment proceedings, ultimately siding with the assessee. en-us Tue, 27 Jun 2023 00:00:00 +0530 Fri, 30 Jun 2023 09:35:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439701 The Tribunal quashed the Principal Commissioner of Income Tax's revision order, ruling in favor of the assessee. The Tribunal held that the PCIT could not revise the assessment order under section 147 of the Income Tax Act as the issues raised were not part of the reassessment proceedings. It was determined that the reassessment order was not erroneous, rendering the PCIT's revision jurisdiction unjustified. The decision emphasized the importance of the scope of revision jurisdiction and the relevance of issues raised in reassessment proceedings, ultimately siding with the assessee. Case-Laws Income Tax Tue, 27 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439701