https://www.taxtmi.com/caselaws?id=255238 The High Court upheld the Income Tax Appellate Tribunal's decision to set aside the Commissioner of Income Tax's order under Section 263 of the Income Tax Act. The Court found that the Commissioner had exceeded jurisdiction by re-assessing an already concluded assessment, emphasizing that only orders that are both erroneous and prejudicial to revenue can be revised under Section 263. The factual errors in the Commissioner's order were evident, leading to the dismissal of the Revenue's appeal and affirming that the case was adequately addressed by the Assessing Officer. en-us Wed, 24 Dec 2014 00:00:00 +0530 Mon, 12 Jan 2015 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255238 The High Court upheld the Income Tax Appellate Tribunal's decision to set aside the Commissioner of Income Tax's order under Section 263 of the Income Tax Act. The Court found that the Commissioner had exceeded jurisdiction by re-assessing an already concluded assessment, emphasizing that only orders that are both erroneous and prejudicial to revenue can be revised under Section 263. The factual errors in the Commissioner's order were evident, leading to the dismissal of the Revenue's appeal and affirming that the case was adequately addressed by the Assessing Officer. Case-Laws Income Tax Wed, 24 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255238