https://www.taxtmi.com/caselaws?id=214235 The Tribunal upheld the Director of Income Tax's decision under section 263, dismissing the appeal challenging the cancellation of the assessment and ordering a fresh assessment. It was determined that the appellant's engagement in a composite contract with ONGC necessitated the application of section 44BB for taxation without deductions, as the services and materials provided were integral. The Tribunal agreed that the Assessing Officer's error justified the fresh assessment, finding no fault in the Director's decision to invoke section 263 and directing a reassessment. en-us Fri, 11 May 2012 00:00:00 +0530 Fri, 22 Jun 2012 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214235 The Tribunal upheld the Director of Income Tax's decision under section 263, dismissing the appeal challenging the cancellation of the assessment and ordering a fresh assessment. It was determined that the appellant's engagement in a composite contract with ONGC necessitated the application of section 44BB for taxation without deductions, as the services and materials provided were integral. The Tribunal agreed that the Assessing Officer's error justified the fresh assessment, finding no fault in the Director's decision to invoke section 263 and directing a reassessment. Case-Laws Income Tax Fri, 11 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214235