https://www.taxtmi.com/caselaws?id=450742 The Tribunal concluded that the Principal Commissioner of Income Tax (PCIT) was unjustified in invoking section 263 of the Income Tax Act, 1961. The Tribunal found that the appellant had provided substantial evidence supporting the shortage of piped natural gas (PNG), which was verified during the original assessment. Consequently, the Tribunal allowed the assessee's appeal, setting aside the PCIT's directive for a fresh assessment. en-us Wed, 06 Mar 2024 00:00:00 +0530 Tue, 12 Mar 2024 08:55:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450742 The Tribunal concluded that the Principal Commissioner of Income Tax (PCIT) was unjustified in invoking section 263 of the Income Tax Act, 1961. The Tribunal found that the appellant had provided substantial evidence supporting the shortage of piped natural gas (PNG), which was verified during the original assessment. Consequently, the Tribunal allowed the assessee's appeal, setting aside the PCIT's directive for a fresh assessment. Case-Laws Income Tax Wed, 06 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450742