https://www.taxtmi.com/caselaws?id=64423 The court held that the order passed by the Commissioner of Income-tax under sec. 263 was invalid and erroneous. The assessment was reopened under sec. 147(a) based on the possession of jewellery by the appellant's wife, declared in her wealth-tax returns. The court found that the Commissioner's order lacked the necessary elements of being both erroneous and prejudicial to the Revenue. The order under sec. 263 was canceled, and the appeal was allowed in favor of the appellant due to legal deficiencies in the Commissioner's order. en-us Mon, 27 Apr 1987 00:00:00 +0530 Mon, 07 Feb 2011 17:50:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64423 The court held that the order passed by the Commissioner of Income-tax under sec. 263 was invalid and erroneous. The assessment was reopened under sec. 147(a) based on the possession of jewellery by the appellant's wife, declared in her wealth-tax returns. The court found that the Commissioner's order lacked the necessary elements of being both erroneous and prejudicial to the Revenue. The order under sec. 263 was canceled, and the appeal was allowed in favor of the appellant due to legal deficiencies in the Commissioner's order. Case-Laws Income Tax Mon, 27 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64423