SCN Issued for Property Purchase to Wrong Assessment Year: ITAT Quashes PCIT Order

The ITAT (Income Tax Appellate Tribunal) has quashed a PCIT (Principal Commissioner of Income Tax) order where a show cause notice (SCN) for property purchase was issued for the wrong assessment year. The tribunal found that the PCIT's revisionary order was invalid because the underlying SCN incorrectly referred to the assessment year for the property transaction. This emphasizes the critical importance of procedural correctness and the accurate mention of relevant assessment years in tax notices. Such a fundamental error renders the entire subsequent proceeding, including the PCIT's order, legally unsustainable.