The tribunal emphasized that the PCIT had acted with undue haste in completing the proceedings within just 12 days, despite having over a year to conduct a thorough review
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) invalidated the Principal Commissioner of Income Tax’s (PCIT) hasty revision under Section 263 of Income Tax Act,1961 and remanded the case for a fresh hearing, ensuring the assessee would have a fair opportunity to address the issues raised comprehensively. Dineshbhai Dahyabhai Patel,the appellant-assessee, filed…
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