https://www.taxtmi.com/caselaws?id=64189 The Income Tax Appellate Tribunal (ITAT) held that the Commissioner of Income Tax (CIT) exceeded jurisdiction under section 263 as the Appellate Commissioner's (AAC) order had merged with the assessment order. The ITAT allowed the appeal, rejecting the CIT's directions for assessing capital gains. The judgment emphasized jurisdictional boundaries and interpreting tax laws in favor of the taxpayer. en-us Tue, 30 Sep 1986 00:00:00 +0530 Sat, 05 Feb 2011 12:58:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64189 The Income Tax Appellate Tribunal (ITAT) held that the Commissioner of Income Tax (CIT) exceeded jurisdiction under section 263 as the Appellate Commissioner's (AAC) order had merged with the assessment order. The ITAT allowed the appeal, rejecting the CIT's directions for assessing capital gains. The judgment emphasized jurisdictional boundaries and interpreting tax laws in favor of the taxpayer. Case-Laws Income Tax Tue, 30 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64189