https://www.taxtmi.com/caselaws?id=179640 The High Court upheld the Tribunal's decision, dismissing the Revenue's appeal. It found that the Commissioner's order under section 263 was erroneous and without jurisdiction as the Assessing Officer's treatment of income as business income was legally justifiable. The Court emphasized the importance of following permissible options in assessment and clarified that setting aside the order under section 263 rendered it non-existent, reviving the assessee's appeal for further consideration. en-us Thu, 20 Feb 2014 00:00:00 +0530 Mon, 07 Mar 2016 07:20:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179640 The High Court upheld the Tribunal's decision, dismissing the Revenue's appeal. It found that the Commissioner's order under section 263 was erroneous and without jurisdiction as the Assessing Officer's treatment of income as business income was legally justifiable. The Court emphasized the importance of following permissible options in assessment and clarified that setting aside the order under section 263 rendered it non-existent, reviving the assessee's appeal for further consideration. Case-Laws Income Tax Thu, 20 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179640