https://www.taxtmi.com/caselaws?id=309214 The Tribunal held that the assessment order passed by the Assessing Officer (AO) was not erroneous and prejudicial to the interest of revenue. The AO's investigation was deemed detailed and in compliance with applicable provisions and judicial decisions. The Tribunal found that the AO's view was supported by judicial precedents, and the conditions under section 263 were not met. Consequently, the Tribunal allowed the appeals of the assessee, overturning the order of the Principal Commissioner of Income Tax (PCIT) under section 263. en-us Tue, 23 Apr 2019 00:00:00 +0530 Thu, 17 Aug 2023 21:49:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309214 The Tribunal held that the assessment order passed by the Assessing Officer (AO) was not erroneous and prejudicial to the interest of revenue. The AO's investigation was deemed detailed and in compliance with applicable provisions and judicial decisions. The Tribunal found that the AO's view was supported by judicial precedents, and the conditions under section 263 were not met. Consequently, the Tribunal allowed the appeals of the assessee, overturning the order of the Principal Commissioner of Income Tax (PCIT) under section 263. Case-Laws Income Tax Tue, 23 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309214