https://www.taxtmi.com/caselaws?id=234511 The High Court upheld the decision of the Income Tax Appellate Tribunal, emphasizing the importance of proper jurisdiction, specific grounds for revision, and factual findings in revising assessments under the Income Tax Act. The revision of assessment under Section 263 based on the claim under Section 14A was rejected due to the lack of correlation between the investments made and the debentures issued by the assessee. The notice issued under Section 263 was deemed invalid as it failed to specify the errors in the assessment order, leading to the dismissal of the Tax Case (Appeal). en-us Mon, 03 Jun 2013 00:00:00 +0530 Fri, 25 Oct 2013 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234511 The High Court upheld the decision of the Income Tax Appellate Tribunal, emphasizing the importance of proper jurisdiction, specific grounds for revision, and factual findings in revising assessments under the Income Tax Act. The revision of assessment under Section 263 based on the claim under Section 14A was rejected due to the lack of correlation between the investments made and the debentures issued by the assessee. The notice issued under Section 263 was deemed invalid as it failed to specify the errors in the assessment order, leading to the dismissal of the Tax Case (Appeal). Case-Laws Income Tax Mon, 03 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234511