PCIT has no Jurisdiction When AO Enquired Issuance of High Premium Shares: Delhi HC Uphold order of ITAT [Read Order]

The Delhi HC upheld the order of ITAT which invalidated the Jurisdiction of PCIT.
PCIT - Jurisdiction - AO - High Premium Shares - Delhi HC - ITAT - Delhi HC Uphold order of ITAT - taxscan

The Delhi High Court upheld the order of the Income Tax Appellate Tribunal (ITAT) and held that the Principal Commissioner of Income Tax (PCIT) has no jurisdiction when the Assessing Officer (AO) enquired issuance of high premium shares. The respondent/assessee, Trojan Developers Pvt Ltd had filed its Return of Income [“ROI”] for the AY in…

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