https://www.taxtmi.com/caselaws?id=155038 The Tribunal held that the Commissioner of Income-tax's order under section 263 was not valid as the original assessment by the Assessing Officer was deemed tenable. The transactions were classified as capital gains due to being held as investments with consistent treatment in previous years. The Tribunal emphasized the importance of consistency and proper application of legal principles, ultimately allowing the assessee's appeal and quashing the order under section 263. en-us Fri, 19 Aug 2011 00:00:00 +0530 Sat, 31 Aug 2013 11:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155038 The Tribunal held that the Commissioner of Income-tax's order under section 263 was not valid as the original assessment by the Assessing Officer was deemed tenable. The transactions were classified as capital gains due to being held as investments with consistent treatment in previous years. The Tribunal emphasized the importance of consistency and proper application of legal principles, ultimately allowing the assessee's appeal and quashing the order under section 263. Case-Laws Income Tax Fri, 19 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155038