https://www.taxtmi.com/caselaws?id=169140 The Tribunal allowed the assessee's appeal, emphasizing the importance of meeting the twin conditions of an erroneous and prejudicial order for the Commissioner to exercise jurisdiction under section 263 of the I.T. Act. The judgment underscored the significance of correct application of law by the Assessing officer and the necessity for an order to be both erroneous and prejudicial to the Revenue's interests for section 263 to be invoked. en-us Fri, 19 Sep 2014 00:00:00 +0530 Mon, 06 Apr 2015 21:57:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169140 The Tribunal allowed the assessee's appeal, emphasizing the importance of meeting the twin conditions of an erroneous and prejudicial order for the Commissioner to exercise jurisdiction under section 263 of the I.T. Act. The judgment underscored the significance of correct application of law by the Assessing officer and the necessity for an order to be both erroneous and prejudicial to the Revenue's interests for section 263 to be invoked. Case-Laws Income Tax Fri, 19 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169140