https://www.taxtmi.com/caselaws?id=180162 The Tribunal canceled the Commissioner of Income Tax's order under section 263, ruling in favor of the assessee. It held that the Assessing Officer had not erred in following the previous year's order regarding set off of brought forward losses, determining that the current year's assessment was not erroneous. As a result, the twin conditions required for jurisdiction under section 263 were not met, leading to the cancellation of the CIT's order and allowing the appeal. en-us Thu, 29 Jan 2015 00:00:00 +0530 Fri, 18 Mar 2016 10:03:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180162 The Tribunal canceled the Commissioner of Income Tax's order under section 263, ruling in favor of the assessee. It held that the Assessing Officer had not erred in following the previous year's order regarding set off of brought forward losses, determining that the current year's assessment was not erroneous. As a result, the twin conditions required for jurisdiction under section 263 were not met, leading to the cancellation of the CIT's order and allowing the appeal. Case-Laws Income Tax Thu, 29 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180162