https://www.taxtmi.com/caselaws?id=8907 The court upheld the Commissioner's authority to include capital gains in the total income of the assessee under section 264(1) of the Income-tax Act, 1961. The judgment clarified that the Commissioner's power extends to correcting errors in orders, ensuring they are not prejudicial to the assessee. The court emphasized that the net impact of the order should be considered to determine prejudice, and in this case, where the petitioner's total income was reduced, the Commissioner's decision was found to be in favor of the assessee. The court dismissed the petition, stating that the Commissioner's action was within jurisdiction and in favor of the assessee. en-us Mon, 26 Feb 1973 00:00:00 +0530 Wed, 17 Jun 2009 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8907 The court upheld the Commissioner's authority to include capital gains in the total income of the assessee under section 264(1) of the Income-tax Act, 1961. The judgment clarified that the Commissioner's power extends to correcting errors in orders, ensuring they are not prejudicial to the assessee. The court emphasized that the net impact of the order should be considered to determine prejudice, and in this case, where the petitioner's total income was reduced, the Commissioner's decision was found to be in favor of the assessee. The court dismissed the petition, stating that the Commissioner's action was within jurisdiction and in favor of the assessee. Case-Laws Income Tax Mon, 26 Feb 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8907