https://www.taxtmi.com/caselaws?id=264674 The Tribunal ruled in favor of the assessee, holding that the Commissioner's exercise of jurisdiction under section 263 of the Income Tax Act was not justified. The Tribunal found that the Assessing Officer's order was not erroneous or prejudicial to the Revenue, emphasizing that the capital gains were offered in different assessment years without causing any prejudice. Therefore, the Tribunal set aside the Commissioner's order and restored the Assessing Officer's decision, allowing the assessee's appeal. en-us Fri, 24 Jul 2015 00:00:00 +0530 Fri, 20 Nov 2015 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264674 The Tribunal ruled in favor of the assessee, holding that the Commissioner's exercise of jurisdiction under section 263 of the Income Tax Act was not justified. The Tribunal found that the Assessing Officer's order was not erroneous or prejudicial to the Revenue, emphasizing that the capital gains were offered in different assessment years without causing any prejudice. Therefore, the Tribunal set aside the Commissioner's order and restored the Assessing Officer's decision, allowing the assessee's appeal. Case-Laws Income Tax Fri, 24 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264674