https://www.taxtmi.com/caselaws?id=9379 The High Court upheld the Commissioner's decision to set aside the original assessment order under section 263 of the Income-tax Act due to the impact of a retrospective amendment on the computation of capital employed. The Court ruled in favor of the Revenue, emphasizing that the retrospective amendment necessitated the exclusion of borrowed capital for computing the capital employed, rendering the original order erroneous and justifying the Commissioner's action under section 263. en-us Tue, 17 Aug 2004 00:00:00 +0530 Mon, 22 Jun 2009 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9379 The High Court upheld the Commissioner's decision to set aside the original assessment order under section 263 of the Income-tax Act due to the impact of a retrospective amendment on the computation of capital employed. The Court ruled in favor of the Revenue, emphasizing that the retrospective amendment necessitated the exclusion of borrowed capital for computing the capital employed, rendering the original order erroneous and justifying the Commissioner's action under section 263. Case-Laws Income Tax Tue, 17 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9379