https://www.taxtmi.com/caselaws?id=175360 The Tribunal granted the assessee a stay on assessment proceedings under sections 143(3)/263 of the Income Tax Act until 30th September 2010 or the disposal of pending appeals, emphasizing that an invalid exercise of the Commissioner's powers under section 263 would render any consequential order invalid. The Tribunal acknowledged its inherent power to grant stays and allowed the assessee's stay applications. The assessee's challenge to the Commissioner's order under section 263 was based on the argument that it was influenced by higher authorities and constituted a mere change of opinion, not warranting revision. en-us Fri, 21 May 2010 00:00:00 +0530 Thu, 19 Nov 2015 11:00:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175360 The Tribunal granted the assessee a stay on assessment proceedings under sections 143(3)/263 of the Income Tax Act until 30th September 2010 or the disposal of pending appeals, emphasizing that an invalid exercise of the Commissioner's powers under section 263 would render any consequential order invalid. The Tribunal acknowledged its inherent power to grant stays and allowed the assessee's stay applications. The assessee's challenge to the Commissioner's order under section 263 was based on the argument that it was influenced by higher authorities and constituted a mere change of opinion, not warranting revision. Case-Laws Income Tax Fri, 21 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175360