https://www.taxtmi.com/caselaws?id=339402 The High Court upheld the Tribunal's decision that the Commissioner of Income Tax had no jurisdiction under Section 263 to revise the assessment, as the Assessing Officer's decision was found to be correct and not prejudicial to revenue. The Court dismissed the appeal, ruling in favor of the assessee and emphasizing the necessity of thorough verifications and examinations before revising assessment orders under Section 263 of the Income Tax Act. en-us Wed, 08 Feb 2017 00:00:00 +0530 Sat, 25 Feb 2017 15:17:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339402 The High Court upheld the Tribunal's decision that the Commissioner of Income Tax had no jurisdiction under Section 263 to revise the assessment, as the Assessing Officer's decision was found to be correct and not prejudicial to revenue. The Court dismissed the appeal, ruling in favor of the assessee and emphasizing the necessity of thorough verifications and examinations before revising assessment orders under Section 263 of the Income Tax Act. Case-Laws Income Tax Wed, 08 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339402