PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]

PCIT - Assessment Order - Interest - Revenue - ITAT - taxcan

The Delhi Bench of Income Tax Appellate Tribunal has held that Principal Commissioner of Income Tax (PCIT) fails to mention as to how assessment order was erroneous and prejudicial to interest of revenue and set asides order issued u/s 263 During the course of assessment proceedings, the Assessing Officer observed that assessee, Mr. Jai Parkash…

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