https://www.taxtmi.com/caselaws?id=76012 The High Court dismissed the appeal by the revenue against the Income Tax Appellate Tribunal's order for the assessment year 2003-2004. The Commissioner of Income Tax (Appeals) invoked Section 263 of the Income Tax Act, alleging errors in the assessment order related to the disallowance of sales commission in calculating book profits under Section 115JB. The Court upheld the Tribunal's decision, emphasizing the Assessing Officer's limited powers in computing income under Section 115JB and the absence of errors justifying Section 263 intervention. The appeal was dismissed, affirming the principles established in the Apollo Tyres Ltd case regarding the Assessing Officer's jurisdiction. en-us Mon, 03 May 2010 00:00:00 +0530 Sun, 08 May 2011 13:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76012 The High Court dismissed the appeal by the revenue against the Income Tax Appellate Tribunal's order for the assessment year 2003-2004. The Commissioner of Income Tax (Appeals) invoked Section 263 of the Income Tax Act, alleging errors in the assessment order related to the disallowance of sales commission in calculating book profits under Section 115JB. The Court upheld the Tribunal's decision, emphasizing the Assessing Officer's limited powers in computing income under Section 115JB and the absence of errors justifying Section 263 intervention. The appeal was dismissed, affirming the principles established in the Apollo Tyres Ltd case regarding the Assessing Officer's jurisdiction. Case-Laws Income Tax Mon, 03 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76012