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Ld PCIT held that the Assessing officer had 'made some partial application of mind' relating to point no. 3(ii) mentioned above/and regarding point no. 3(i) mentioned above, the assessment order passed on 30-12-2016 u/s 143(3) of the Act was erroneous in so far as prejudicial to the interests of the revenue. Therefore, ld PCIT restored the matter back to the file of the Assessing Officer to tax the undisclosed income of Rs. 3,95,933/- as per provisions of Section 115BBE of the Income-tax Act, 1961.Aggrieved by the order of the ld. PCIT, the assessee is in appeal before Tribunal.

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Section 263 of the Income-tax Act, 1961—Revision — Since the PCIT has used only probability and likelihood to find the error in the assessment order which is not permitted, he ought to find out specific error in the assessment order, and guide the assessing officer, since he has failed to do so in the assessee's case under consideration, therefore order passed by the assessing officer is neither erroneous nor prejudicial to the interest of the revenue and since the order of the Assessing Officer cannot be held to be erroneous as well as prejudicial to the interest of Revenue , the usurpation of jurisdiction exercising revisional jurisdiction by the Principal CIT is "null" in the eye of law, therefore the very assumption of jurisdiction to invoke revisional jurisdiction u/s 263 by the PCIT was quashed - ABDUL HAMID V/s ITO - [2020] 183 ITD 711 (ITAT-GAUHATI)

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