https://www.taxtmi.com/caselaws?id=339880 The Tribunal ruled in favor of the assessee in an appeal against the CIT's order under Section 263 of the Income-tax Act, 1961 for AY 2006-07. It found no error or prejudice to Revenue's interests in the assessment order passed under Section 143(3), as the income had been correctly reported in the previous year. The Tribunal concluded that the CIT's assumption of jurisdiction under Section 263 was wrongful and quashed both orders, rendering the assessment orders ineffective. en-us Mon, 06 Mar 2017 00:00:00 +0530 Thu, 09 Mar 2017 08:36:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339880 The Tribunal ruled in favor of the assessee in an appeal against the CIT's order under Section 263 of the Income-tax Act, 1961 for AY 2006-07. It found no error or prejudice to Revenue's interests in the assessment order passed under Section 143(3), as the income had been correctly reported in the previous year. The Tribunal concluded that the CIT's assumption of jurisdiction under Section 263 was wrongful and quashed both orders, rendering the assessment orders ineffective. Case-Laws Income Tax Mon, 06 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339880