https://www.taxtmi.com/caselaws?id=440098 The Tribunal upheld the Principal Commissioner of Income Tax's (PCIT) invocation of revisionary jurisdiction under Section 263 regarding the disallowance of purchases from M/s Meet Enterprises. The PCIT's action was deemed valid within the permissible time frame, despite the settlement under the Direct Tax Vivad se Vishwas Act, 2020, and the reassessment order was found to be erroneous. The PCIT was directed to reconsider the disallowance of Rs 33,35,500, dismissing the assessee's appeal. en-us Thu, 08 Jun 2023 00:00:00 +0530 Mon, 10 Jul 2023 07:54:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440098 The Tribunal upheld the Principal Commissioner of Income Tax's (PCIT) invocation of revisionary jurisdiction under Section 263 regarding the disallowance of purchases from M/s Meet Enterprises. The PCIT's action was deemed valid within the permissible time frame, despite the settlement under the Direct Tax Vivad se Vishwas Act, 2020, and the reassessment order was found to be erroneous. The PCIT was directed to reconsider the disallowance of Rs 33,35,500, dismissing the assessee's appeal. Case-Laws Income Tax Thu, 08 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440098