https://www.taxtmi.com/caselaws?id=260709 The Tribunal held that the Commissioner's action under Section 263 of the Income Tax Act was not justified as the Assessing Officer had taken a possible view in law, and the issue was already subject to appeal. The Tribunal found that the assessment order did not cause any prejudice to the revenue. Consequently, the Tribunal quashed the Commissioner's order and allowed the appeal of the assessee, resulting in no addition and no tax liability. en-us Wed, 10 Jun 2015 00:00:00 +0530 Mon, 22 Jun 2015 06:26:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260709 The Tribunal held that the Commissioner's action under Section 263 of the Income Tax Act was not justified as the Assessing Officer had taken a possible view in law, and the issue was already subject to appeal. The Tribunal found that the assessment order did not cause any prejudice to the revenue. Consequently, the Tribunal quashed the Commissioner's order and allowed the appeal of the assessee, resulting in no addition and no tax liability. Case-Laws Income Tax Wed, 10 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260709