https://www.taxtmi.com/caselaws?id=203366 The Tribunal dismissed the appeal, upholding the Commissioner's invocation of section 263 of the Income Tax Act. The Assessing Officer's failure to properly compute book profits under section 115JB and lack of proper enquiry rendered the assessment order erroneous and prejudicial to revenue interests. The Tribunal found the order deficient as the Assessing Officer did not consider the provisions of section 115JB, leading to the conclusion that the CIT's action was justified. en-us Fri, 24 Dec 2010 00:00:00 +0530 Mon, 23 May 2011 23:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203366 The Tribunal dismissed the appeal, upholding the Commissioner's invocation of section 263 of the Income Tax Act. The Assessing Officer's failure to properly compute book profits under section 115JB and lack of proper enquiry rendered the assessment order erroneous and prejudicial to revenue interests. The Tribunal found the order deficient as the Assessing Officer did not consider the provisions of section 115JB, leading to the conclusion that the CIT's action was justified. Case-Laws Income Tax Fri, 24 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203366