https://www.taxtmi.com/caselaws?id=268054 The Tribunal upheld the Commissioner's order under Section 263, finding the assessment order erroneous and prejudicial to the Revenue's interest due to the incorrect classification of rental income, inadmissible expenses, and improper set-off of business losses. The Tribunal agreed that the AO failed to conduct a proper enquiry, supporting the Commissioner's revisionary jurisdiction. The appeal was dismissed, and the case was remitted to the AO for fresh assessment in line with the Commissioner's directives. en-us Fri, 06 Nov 2015 00:00:00 +0530 Thu, 19 Nov 2015 06:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268054 The Tribunal upheld the Commissioner's order under Section 263, finding the assessment order erroneous and prejudicial to the Revenue's interest due to the incorrect classification of rental income, inadmissible expenses, and improper set-off of business losses. The Tribunal agreed that the AO failed to conduct a proper enquiry, supporting the Commissioner's revisionary jurisdiction. The appeal was dismissed, and the case was remitted to the AO for fresh assessment in line with the Commissioner's directives. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268054