https://www.taxtmi.com/caselaws?id=260681 The Tribunal found in favor of the assessee, ruling that the notice issued under Section 263 of the IT Act was valid despite initial challenges. It was determined that the AO's actions were compliant with Sections 11 and 13, and ITNS 150 could be revised under Section 263. The order dated 01.12.2011 was deemed not erroneous or prejudicial to revenue. The doctrine of merger applied, preventing revision under Section 263 for issues already decided. Additionally, the revisionary order was time-barred, leading to its quashing. The appeals of the assessee were allowed for all assessment years. en-us Fri, 29 Aug 2014 00:00:00 +0530 Sat, 20 Jun 2015 08:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260681 The Tribunal found in favor of the assessee, ruling that the notice issued under Section 263 of the IT Act was valid despite initial challenges. It was determined that the AO's actions were compliant with Sections 11 and 13, and ITNS 150 could be revised under Section 263. The order dated 01.12.2011 was deemed not erroneous or prejudicial to revenue. The doctrine of merger applied, preventing revision under Section 263 for issues already decided. Additionally, the revisionary order was time-barred, leading to its quashing. The appeals of the assessee were allowed for all assessment years. Case-Laws Income Tax Fri, 29 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260681