https://www.taxtmi.com/caselaws?id=251169 The Tribunal upheld the Commissioner of Income Tax's order under Section 263, directing a fresh assessment by the Assessing Officer. The decision was based on the failure to adequately examine the transaction, treating upfront lease rent as capital expenditure, and not taxing the proportionate lease income. The appellant's appeal was dismissed, affirming the revision under Section 263 and the need for a reassessment in compliance with the law. en-us Thu, 31 Jul 2014 00:00:00 +0530 Sat, 06 Sep 2014 08:46:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251169 The Tribunal upheld the Commissioner of Income Tax's order under Section 263, directing a fresh assessment by the Assessing Officer. The decision was based on the failure to adequately examine the transaction, treating upfront lease rent as capital expenditure, and not taxing the proportionate lease income. The appellant's appeal was dismissed, affirming the revision under Section 263 and the need for a reassessment in compliance with the law. Case-Laws Income Tax Thu, 31 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251169