https://www.taxtmi.com/caselaws?id=69883 The Tribunal upheld the CIT's decision to set aside the assessment order under section 263 of the IT Act, finding that the original assessment for the assessment year 1993-94 did not properly consider seized materials indicating unaccounted sales and suppression of sales. The failure to assess these materials led to an erroneous assessment and revenue loss. The Tribunal agreed that the assessment order was prejudicial to revenue interests and directed the AO to consider the unaccounted sales amounting to Rs. 81,92,659 for assessment, dismissing the appeal by the assessee. en-us Mon, 13 Oct 2003 00:00:00 +0530 Tue, 12 Apr 2011 15:49:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69883 The Tribunal upheld the CIT's decision to set aside the assessment order under section 263 of the IT Act, finding that the original assessment for the assessment year 1993-94 did not properly consider seized materials indicating unaccounted sales and suppression of sales. The failure to assess these materials led to an erroneous assessment and revenue loss. The Tribunal agreed that the assessment order was prejudicial to revenue interests and directed the AO to consider the unaccounted sales amounting to Rs. 81,92,659 for assessment, dismissing the appeal by the assessee. Case-Laws Income Tax Mon, 13 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69883