https://www.taxtmi.com/caselaws?id=66426 The Tribunal upheld the Commissioner's jurisdiction under Section 263 of the Income-tax Act, 1961, stating that the order was within the time limit. However, regarding the assessee's status as "a company in which public are substantially interested," the Tribunal directed a fresh examination, finding the Commissioner's decision lacking reasoning and particulars. The Tribunal set aside the assessment on the status issue, instructing a de novo consideration by the Income Tax Officer for a thorough examination of facts. The appeal was allowed partly for statistical purposes. en-us Thu, 29 Sep 1983 00:00:00 +0530 Thu, 24 Feb 2011 16:15:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66426 The Tribunal upheld the Commissioner's jurisdiction under Section 263 of the Income-tax Act, 1961, stating that the order was within the time limit. However, regarding the assessee's status as "a company in which public are substantially interested," the Tribunal directed a fresh examination, finding the Commissioner's decision lacking reasoning and particulars. The Tribunal set aside the assessment on the status issue, instructing a de novo consideration by the Income Tax Officer for a thorough examination of facts. The appeal was allowed partly for statistical purposes. Case-Laws Income Tax Thu, 29 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66426