https://www.taxtmi.com/caselaws?id=257023 The Tribunal concluded that the Director of Income Tax (Exemptions) did not have jurisdiction to pass a revisional order under Section 263 as the assessment order was not erroneous or prejudicial to the Revenue. The Tribunal upheld the principle of mutuality applied by the Assessing Officer and Commissioner of Income Tax (Appeals), noting that the revisional order was based solely on audit objections without proper examination. Consequently, the Tribunal allowed the appeal filed by the assessee, canceling the order passed by the Director of Income Tax (Exemptions) under Section 263. en-us Thu, 12 Feb 2015 00:00:00 +0530 Wed, 25 Feb 2015 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257023 The Tribunal concluded that the Director of Income Tax (Exemptions) did not have jurisdiction to pass a revisional order under Section 263 as the assessment order was not erroneous or prejudicial to the Revenue. The Tribunal upheld the principle of mutuality applied by the Assessing Officer and Commissioner of Income Tax (Appeals), noting that the revisional order was based solely on audit objections without proper examination. Consequently, the Tribunal allowed the appeal filed by the assessee, canceling the order passed by the Director of Income Tax (Exemptions) under Section 263. Case-Laws Income Tax Thu, 12 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257023