https://www.taxtmi.com/caselaws?id=10510 The High Court clarified that the term "record" under section 263 of the Income-tax Act, 1961 includes all records available at the time of examination by the Commissioner, not just those of the proceeding. It upheld the validity of the Commissioner's order based on the Valuation Officer's report, stating the Commissioner had the authority to consider such reports for proceedings under section 263(1) of the Act. The Court ruled in favor of the Revenue, emphasizing the broad scope of records that can be considered for assessing the correctness of an income tax assessment. en-us Tue, 28 Sep 2004 00:00:00 +0530 Thu, 16 Jul 2009 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10510 The High Court clarified that the term "record" under section 263 of the Income-tax Act, 1961 includes all records available at the time of examination by the Commissioner, not just those of the proceeding. It upheld the validity of the Commissioner's order based on the Valuation Officer's report, stating the Commissioner had the authority to consider such reports for proceedings under section 263(1) of the Act. The Court ruled in favor of the Revenue, emphasizing the broad scope of records that can be considered for assessing the correctness of an income tax assessment. Case-Laws Income Tax Tue, 28 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10510