https://www.taxtmi.com/caselaws?id=252116 The High Court dismissed the appeal under section 260A of the Income-tax Act, 1961 for the assessment year 2006-07. The case involved issues regarding verification of details, holding period of shares for exemption, and the scope of section 263. The Court emphasized that revisional jurisdiction under section 263 is limited to cases where the Assessing Officer's order is genuinely erroneous and prejudicial to Revenue's interests. As there was no tangible basis for the Commissioner's decision and no substantial question of law existed, the appeal was dismissed. en-us Mon, 03 Mar 2014 00:00:00 +0530 Fri, 10 Oct 2014 22:05:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252116 The High Court dismissed the appeal under section 260A of the Income-tax Act, 1961 for the assessment year 2006-07. The case involved issues regarding verification of details, holding period of shares for exemption, and the scope of section 263. The Court emphasized that revisional jurisdiction under section 263 is limited to cases where the Assessing Officer's order is genuinely erroneous and prejudicial to Revenue's interests. As there was no tangible basis for the Commissioner's decision and no substantial question of law existed, the appeal was dismissed. Case-Laws Income Tax Mon, 03 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252116