https://www.taxtmi.com/caselaws?id=255364 The Tribunal upheld the CIT's jurisdiction under Section 263, finding the assessment order erroneous and prejudicial to revenue. The rental income from godowns was deemed income from house property, not agricultural income. The Tribunal remitted expenditure decisions back to the Assessing Officer for proper assessment. Consequential issues on penalties and interest were deferred pending resolution of primary matters. The appeal was partly allowed, and departmental objections were accepted. en-us Fri, 31 Jan 2014 00:00:00 +0530 Thu, 15 Jan 2015 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255364 The Tribunal upheld the CIT's jurisdiction under Section 263, finding the assessment order erroneous and prejudicial to revenue. The rental income from godowns was deemed income from house property, not agricultural income. The Tribunal remitted expenditure decisions back to the Assessing Officer for proper assessment. Consequential issues on penalties and interest were deferred pending resolution of primary matters. The appeal was partly allowed, and departmental objections were accepted. Case-Laws Income Tax Fri, 31 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255364