https://www.taxtmi.com/caselaws?id=216886 The ITAT allowed the Assessee's appeal, emphasizing the CIT's jurisdiction under section 263 and the treatment of undisclosed income and expenses under section 69C of the IT Act. The judgment stressed the importance of correctly applying the IT Act's provisions to avoid deeming orders as erroneous or prejudicial to revenue due to a mere change of opinion. The CIT's order under section 263 was set aside as a change of opinion, as the assessing officer had already considered the relevant facts. en-us Tue, 31 Jul 2012 00:00:00 +0530 Tue, 25 Sep 2012 07:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216886 The ITAT allowed the Assessee's appeal, emphasizing the CIT's jurisdiction under section 263 and the treatment of undisclosed income and expenses under section 69C of the IT Act. The judgment stressed the importance of correctly applying the IT Act's provisions to avoid deeming orders as erroneous or prejudicial to revenue due to a mere change of opinion. The CIT's order under section 263 was set aside as a change of opinion, as the assessing officer had already considered the relevant facts. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216886