https://www.taxtmi.com/caselaws?id=257325 The tribunal upheld the CIT's order under section 263, determining that the assessment order was erroneous and prejudicial to the revenue's interest due to the lack of inquiry into the commencement of the business and the allowability of expenses. The appeal was dismissed, and the AO was instructed to re-examine the issues after granting the appellant an opportunity. The tribunal clarified that issuing multiple notices under section 263 does not invalidate the proceedings. en-us Mon, 16 Feb 2015 00:00:00 +0530 Tue, 10 Mar 2015 06:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257325 The tribunal upheld the CIT's order under section 263, determining that the assessment order was erroneous and prejudicial to the revenue's interest due to the lack of inquiry into the commencement of the business and the allowability of expenses. The appeal was dismissed, and the AO was instructed to re-examine the issues after granting the appellant an opportunity. The tribunal clarified that issuing multiple notices under section 263 does not invalidate the proceedings. Case-Laws Income Tax Mon, 16 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257325