Transfer Posting in the grade of PrCCIT on promotion.
CBDT, on promotion, has ordered the transfer/posting of 19 Pr. Chief Commissioner of Income Tax /Pr. Director General of Income Tax .
- PCIT has revisionary jurisdiction u/s 263 over the cases passed by the NFAC or the JAO
- Appellate court interfering with MACT finding must undertake reappreciation of evidence
- When delay is not huge & involves huge monetary liability, lenient approach to be taken
- EoGM of company can not ratify diversion of fund raised by preferential issue – SC
- Return of export cargo from Hormuz Strait where vessel do not lands at original port
