Sec. 263 revision to cancel non existing original assessment order is not tenable

PCIT Vs Padma Kumar Jain (Jharkhand High Court) Section 263 revision initiated by CIT second time to cancelling non existing original assessment order isn’t tenable: PCIT v. Padma Kumar Jain – [2022] (Jharkhand) A search and seizure operation was conducted by the Assessing Officer (AO) in the business and residential premises of the assessee-individual. After completion of the search and seizure, a notice under section 153A was issued to which the assessee filed a return of income and an assessment order was passed. Subsequently, the Principal Commissioner of Income-tax (PCIT) under se...