https://www.taxtmi.com/caselaws?id=263051 The court held that the Tribunal erred in allowing the appeal of the assessee by ignoring the provision of Section 263 of the Income Tax Act. The court found that the Assessing Officer's assessment lacked proper inquiry and examination of necessary details, rendering it erroneous and prejudicial to the revenue. Therefore, the court ruled in favor of the revenue, supporting the Commissioner's revisional power under Section 263 and allowing the appeal. en-us Wed, 31 Jul 2013 00:00:00 +0530 Tue, 25 Aug 2015 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263051 The court held that the Tribunal erred in allowing the appeal of the assessee by ignoring the provision of Section 263 of the Income Tax Act. The court found that the Assessing Officer's assessment lacked proper inquiry and examination of necessary details, rendering it erroneous and prejudicial to the revenue. Therefore, the court ruled in favor of the revenue, supporting the Commissioner's revisional power under Section 263 and allowing the appeal. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263051