https://www.taxtmi.com/caselaws?id=250992 The High Court found the Income Tax Appellate Tribunal's decision upholding the Commissioner of Income Tax's order under Section 263 unsustainable. The Court emphasized the need for specific findings to prove the Assessing Officer's order was erroneous, which was lacking in this case. The matter was remanded for a detailed re-examination, particularly regarding the disallowance of commission paid to Managing Directors and the allocation of common expenses between trading and manufacturing units. The appeal was decided in favor of the appellant-assessee, with no costs awarded. en-us Wed, 13 Aug 2014 00:00:00 +0530 Mon, 18 May 2026 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250992 The High Court found the Income Tax Appellate Tribunal's decision upholding the Commissioner of Income Tax's order under Section 263 unsustainable. The Court emphasized the need for specific findings to prove the Assessing Officer's order was erroneous, which was lacking in this case. The matter was remanded for a detailed re-examination, particularly regarding the disallowance of commission paid to Managing Directors and the allocation of common expenses between trading and manufacturing units. The appeal was decided in favor of the appellant-assessee, with no costs awarded. Case-Laws Income Tax Wed, 13 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250992