https://www.taxtmi.com/caselaws?id=178150 The Tribunal ruled in favor of the assessee, quashing the order under sec. 263 by the Learned Commissioner. It held that the AO's discontinuation of reassessment proceedings did not warrant corrective action under sec. 263 as it was not erroneous or prejudicial to revenue interests. The appeal of the assessee was partially allowed, emphasizing that the Learned Commissioner's intervention was unwarranted in this case. en-us Mon, 31 Oct 2011 00:00:00 +0530 Fri, 29 Jan 2016 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178150 The Tribunal ruled in favor of the assessee, quashing the order under sec. 263 by the Learned Commissioner. It held that the AO's discontinuation of reassessment proceedings did not warrant corrective action under sec. 263 as it was not erroneous or prejudicial to revenue interests. The appeal of the assessee was partially allowed, emphasizing that the Learned Commissioner's intervention was unwarranted in this case. Case-Laws Income Tax Mon, 31 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178150