https://www.taxtmi.com/caselaws?id=271006 The Tribunal held that the Director of Income Tax lacked jurisdiction to revise the assessment order under Section 263 as it had merged with the appellate orders of the CIT(A) and the Tribunal. Additionally, the assessment order was not deemed erroneous or prejudicial to the interest of the revenue. Therefore, the Tribunal canceled the order passed under Section 263 and allowed the assessee's appeal, maintaining that the tax effect would remain unchanged. en-us Fri, 30 Oct 2015 00:00:00 +0530 Sat, 23 Jan 2016 10:30:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271006 The Tribunal held that the Director of Income Tax lacked jurisdiction to revise the assessment order under Section 263 as it had merged with the appellate orders of the CIT(A) and the Tribunal. Additionally, the assessment order was not deemed erroneous or prejudicial to the interest of the revenue. Therefore, the Tribunal canceled the order passed under Section 263 and allowed the assessee's appeal, maintaining that the tax effect would remain unchanged. Case-Laws Income Tax Fri, 30 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271006