https://www.taxtmi.com/caselaws?id=65269 The Tribunal set aside the CIT's order under Section 263, ruling in favor of the assessee. It held that the Assessing Officer's decision on the taxability of interest on oil bonds was consistent with previous tribunal and CIT(A) orders. The Tribunal found that the AO had properly considered the issue, and the assessment was not erroneous or prejudicial to revenue interests. Consequently, the CIT's revision of the assessment was deemed unwarranted. en-us Wed, 10 May 2006 00:00:00 +0530 Mon, 14 Feb 2011 15:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65269 The Tribunal set aside the CIT's order under Section 263, ruling in favor of the assessee. It held that the Assessing Officer's decision on the taxability of interest on oil bonds was consistent with previous tribunal and CIT(A) orders. The Tribunal found that the AO had properly considered the issue, and the assessment was not erroneous or prejudicial to revenue interests. Consequently, the CIT's revision of the assessment was deemed unwarranted. Case-Laws Income Tax Wed, 10 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65269