https://www.taxtmi.com/caselaws?id=346894 The Tribunal quashed the proceedings under section 263 initiated by the Commissioner of Income Tax, ruling in favor of the assessee. The Tribunal found that the Commissioner failed to show how the Assessing Officer's order was erroneous or prejudicial to revenue. It noted that the Assessing Officer had properly examined the rental income details before making the assessment. The Tribunal emphasized the necessity of demonstrating valid jurisdiction and identifying specific errors in the assessment order to exercise revisionary powers effectively under section 263. en-us Mon, 21 Aug 2017 00:00:00 +0530 Fri, 25 Aug 2017 07:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346894 The Tribunal quashed the proceedings under section 263 initiated by the Commissioner of Income Tax, ruling in favor of the assessee. The Tribunal found that the Commissioner failed to show how the Assessing Officer's order was erroneous or prejudicial to revenue. It noted that the Assessing Officer had properly examined the rental income details before making the assessment. The Tribunal emphasized the necessity of demonstrating valid jurisdiction and identifying specific errors in the assessment order to exercise revisionary powers effectively under section 263. Case-Laws Income Tax Mon, 21 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346894