https://www.taxtmi.com/caselaws?id=76550 The Court upheld the Commissioner's jurisdiction under section 263 of the Income-tax Act, ruling that the Commissioner could revise an assessment prejudicial to the Revenue within two years of the end of the financial year in which the revised order was passed. The Court also held that the revised assessment was not time-barred as it was considered a new proceeding after the original assessment was set aside in appeal. The challenge against the merit of the impugned order regarding the revised assessment was dismissed, and the writ appeal was ultimately rejected. en-us Fri, 30 Oct 2009 00:00:00 +0530 Sat, 03 Jul 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76550 The Court upheld the Commissioner's jurisdiction under section 263 of the Income-tax Act, ruling that the Commissioner could revise an assessment prejudicial to the Revenue within two years of the end of the financial year in which the revised order was passed. The Court also held that the revised assessment was not time-barred as it was considered a new proceeding after the original assessment was set aside in appeal. The challenge against the merit of the impugned order regarding the revised assessment was dismissed, and the writ appeal was ultimately rejected. Case-Laws Income Tax Fri, 30 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76550