https://www.taxtmi.com/caselaws?id=441409 The ITAT ruled in favor of the Assessee, finding that the Principal CIT lacked jurisdiction to revise the Assessment Order for AY 2011-12 under u/s 263 of the Income Tax Act. The ITAT held that the Assessing Officer's decision was a possible view and not unsustainable in law, as per legal precedents. Since the Principal CIT failed to demonstrate the Assessment Order was erroneous, the ITAT concluded that no substantial questions of law arose, ultimately dismissing the appeal. en-us Wed, 02 Aug 2023 00:00:00 +0530 Tue, 08 Aug 2023 07:28:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441409 The ITAT ruled in favor of the Assessee, finding that the Principal CIT lacked jurisdiction to revise the Assessment Order for AY 2011-12 under u/s 263 of the Income Tax Act. The ITAT held that the Assessing Officer's decision was a possible view and not unsustainable in law, as per legal precedents. Since the Principal CIT failed to demonstrate the Assessment Order was erroneous, the ITAT concluded that no substantial questions of law arose, ultimately dismissing the appeal. Case-Laws Income Tax Wed, 02 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441409