https://www.taxtmi.com/caselaws?id=62326 The Tribunal set aside and canceled the Commissioner's order regarding block assessment under section 158BC, as the Commissioner wrongly invoked section 263 without meeting jurisdictional requirements. The Tribunal determined that the returns filed by the assessee, though invalid, did not constitute undisclosed income for block assessment purposes. As the assessment order was not deemed erroneous or prejudicial to revenue interests, the Commissioner was found to lack jurisdiction under section 263. Consequently, the Tribunal ruled in favor of the appellant, overturning the Commissioner's decision. en-us Fri, 16 Feb 2007 00:00:00 +0530 Wed, 19 Jan 2011 13:04:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62326 The Tribunal set aside and canceled the Commissioner's order regarding block assessment under section 158BC, as the Commissioner wrongly invoked section 263 without meeting jurisdictional requirements. The Tribunal determined that the returns filed by the assessee, though invalid, did not constitute undisclosed income for block assessment purposes. As the assessment order was not deemed erroneous or prejudicial to revenue interests, the Commissioner was found to lack jurisdiction under section 263. Consequently, the Tribunal ruled in favor of the appellant, overturning the Commissioner's decision. Case-Laws Income Tax Fri, 16 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62326