https://www.taxtmi.com/caselaws?id=444166 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax (Pr. CIT) under Section 263 of the Income Tax Act, concluding that the Pr. CIT misinterpreted the facts and law. The Tribunal found that the Assessing Officer (AO) had duly considered the relevant issues, including disallowance under Section 14A and the need for reference to the Transfer Pricing Officer (TPO). Since the conditions for invoking Section 263 were not met, the Tribunal allowed the assessee's appeal, rendering the Pr. CIT's order unsustainable. The appeal was pronounced in open court on August 25, 2023. en-us Fri, 25 Aug 2023 00:00:00 +0530 Wed, 11 Oct 2023 08:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444166 The Tribunal quashed the order passed by the Principal Commissioner of Income Tax (Pr. CIT) under Section 263 of the Income Tax Act, concluding that the Pr. CIT misinterpreted the facts and law. The Tribunal found that the Assessing Officer (AO) had duly considered the relevant issues, including disallowance under Section 14A and the need for reference to the Transfer Pricing Officer (TPO). Since the conditions for invoking Section 263 were not met, the Tribunal allowed the assessee's appeal, rendering the Pr. CIT's order unsustainable. The appeal was pronounced in open court on August 25, 2023. Case-Laws Income Tax Fri, 25 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444166