https://www.taxtmi.com/caselaws?id=449543 The ITAT Dehradun allowed the assessee's appeal, ruling that the order issued by the Principal Commissioner of Income Tax (PCIT) was barred by limitation under Section 263(2) of the Income Tax Act. The Tribunal found that the PCIT's assumption of jurisdiction was improper, as the necessary inquiries were not conducted, and the twin conditions of the order being both erroneous and prejudicial to the revenue were not satisfied. The assessment order dated 13.12.2017 could not be revised by the PCIT's order dated 18.03.2021 due to the expiration of the statutory period. en-us Thu, 01 Feb 2024 00:00:00 +0530 Wed, 14 Feb 2024 07:14:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449543 The ITAT Dehradun allowed the assessee's appeal, ruling that the order issued by the Principal Commissioner of Income Tax (PCIT) was barred by limitation under Section 263(2) of the Income Tax Act. The Tribunal found that the PCIT's assumption of jurisdiction was improper, as the necessary inquiries were not conducted, and the twin conditions of the order being both erroneous and prejudicial to the revenue were not satisfied. The assessment order dated 13.12.2017 could not be revised by the PCIT's order dated 18.03.2021 due to the expiration of the statutory period. Case-Laws Income Tax Thu, 01 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449543