https://www.taxtmi.com/caselaws?id=180971 The Tribunal ruled in favor of the assessee, holding that the benefits received were not taxable under section 28(iv) of the Income Tax Act. It found the Commissioner's order under section 263 unjustified, quashing it as the assessment was not erroneous. The Tribunal emphasized the need for the Commissioner to exercise power under section 263 cautiously and within the specified scope, ultimately allowing the assessee's appeal and setting aside the Commissioner's order. en-us Thu, 29 Dec 2011 00:00:00 +0530 Tue, 05 Apr 2016 12:39:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180971 The Tribunal ruled in favor of the assessee, holding that the benefits received were not taxable under section 28(iv) of the Income Tax Act. It found the Commissioner's order under section 263 unjustified, quashing it as the assessment was not erroneous. The Tribunal emphasized the need for the Commissioner to exercise power under section 263 cautiously and within the specified scope, ultimately allowing the assessee's appeal and setting aside the Commissioner's order. Case-Laws Income Tax Thu, 29 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180971