https://www.taxtmi.com/caselaws?id=9588 The court upheld the Commissioner of Income-tax's authority to revise the assessment under section 263 of the Income-tax Act, 1961, due to errors in income computation that prejudiced Revenue interests. The court found that the failure to apply settled legal principles in computing income was detrimental to Revenue administration, justifying the revision. Additionally, the court determined that the revision order was timely as it addressed a subsequent assessment order within the statutory limit of two years. Consequently, the writ petition was dismissed, affirming the Commissioner's decision to revise the assessment. en-us Thu, 09 Mar 2006 00:00:00 +0530 Sat, 27 Jun 2009 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9588 The court upheld the Commissioner of Income-tax's authority to revise the assessment under section 263 of the Income-tax Act, 1961, due to errors in income computation that prejudiced Revenue interests. The court found that the failure to apply settled legal principles in computing income was detrimental to Revenue administration, justifying the revision. Additionally, the court determined that the revision order was timely as it addressed a subsequent assessment order within the statutory limit of two years. Consequently, the writ petition was dismissed, affirming the Commissioner's decision to revise the assessment. Case-Laws Income Tax Thu, 09 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9588