https://www.taxtmi.com/caselaws?id=336845 The Tribunal held that the Commissioner of Income Tax (CIT) erred in invoking Section 263 of the Income Tax Act as the reassessment order by the Assessing Officer (A.O.) was found to be neither erroneous nor prejudicial to revenue. Consequently, the Tribunal set aside the CIT's order and the consequential order passed by the A.O., ruling in favor of the assessee in the appeals filed. en-us Fri, 09 Dec 2016 00:00:00 +0530 Thu, 29 Dec 2016 13:15:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336845 The Tribunal held that the Commissioner of Income Tax (CIT) erred in invoking Section 263 of the Income Tax Act as the reassessment order by the Assessing Officer (A.O.) was found to be neither erroneous nor prejudicial to revenue. Consequently, the Tribunal set aside the CIT's order and the consequential order passed by the A.O., ruling in favor of the assessee in the appeals filed. Case-Laws Income Tax Fri, 09 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336845