https://www.taxtmi.com/caselaws?id=70643 The Tribunal allowed the appeal on the first issue, holding that the CIT had no jurisdiction to revise the order of the ITO under Section 263 of the IT Act. However, on the second issue, the Tribunal upheld the CIT's order, concluding that the compensation received by the assessee for the loss of empty bottles from the American Company was a revenue receipt. en-us Wed, 10 Aug 1988 00:00:00 +0530 Mon, 18 Apr 2011 12:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70643 The Tribunal allowed the appeal on the first issue, holding that the CIT had no jurisdiction to revise the order of the ITO under Section 263 of the IT Act. However, on the second issue, the Tribunal upheld the CIT's order, concluding that the compensation received by the assessee for the loss of empty bottles from the American Company was a revenue receipt. Case-Laws Income Tax Wed, 10 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70643