https://www.taxtmi.com/caselaws?id=65888 The Tribunal found that the Central Board of Direct Taxes' (CBDT) invocation of Section 263 was unwarranted as the assessment under Section 143(1) was conducted within the statutory framework. The Tribunal held that the Assessing Officer's discretion to choose between summary and detailed assessments cannot render the assessment erroneous solely based on potential higher revenue under a different method. Consequently, the Tribunal set aside the CBDT's order and reinstated the original assessment by the Assessing Officer, ruling in favor of the assessee. en-us Tue, 28 Feb 1995 00:00:00 +0530 Sat, 19 Feb 2011 11:07:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65888 The Tribunal found that the Central Board of Direct Taxes' (CBDT) invocation of Section 263 was unwarranted as the assessment under Section 143(1) was conducted within the statutory framework. The Tribunal held that the Assessing Officer's discretion to choose between summary and detailed assessments cannot render the assessment erroneous solely based on potential higher revenue under a different method. Consequently, the Tribunal set aside the CBDT's order and reinstated the original assessment by the Assessing Officer, ruling in favor of the assessee. Case-Laws Income Tax Tue, 28 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65888