https://www.taxtmi.com/caselaws?id=64534 The Tribunal set aside the Commissioner's order under Section 263 of the Income-tax Act, finding the assumption of jurisdiction illegal as it relied on information not available during the original assessment. Regarding the inquiry into the sale of damaged goods, the Tribunal held that the AO had properly examined the issue, and there was no need for separate disclosure by the assessee. The Tribunal, by majority opinion, allowed the appeal in favor of the assessee, reinstating the assessment order passed by the AO. en-us Fri, 24 Jan 1992 00:00:00 +0530 Tue, 08 Feb 2011 14:15:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64534 The Tribunal set aside the Commissioner's order under Section 263 of the Income-tax Act, finding the assumption of jurisdiction illegal as it relied on information not available during the original assessment. Regarding the inquiry into the sale of damaged goods, the Tribunal held that the AO had properly examined the issue, and there was no need for separate disclosure by the assessee. The Tribunal, by majority opinion, allowed the appeal in favor of the assessee, reinstating the assessment order passed by the AO. Case-Laws Income Tax Fri, 24 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64534