https://www.taxtmi.com/caselaws?id=351853 The Tribunal ruled in favor of the assessee, finding that the original re-assessment order was valid and not prejudicial to the Revenue's interests. The order under section 263 of the I.T. Act was challenged, with the Tribunal emphasizing the rule of consistency and upholding the A.O.'s view where two possible views exist. Additionally, the Tribunal allowed the TDS refund claim by the assessee-firm, noting that the income from the contract rightly belonged to the firm. Concerns regarding understated income and interest from SBI were dismissed as the Pr. CIT could not revise the assessment on grounds not specified in the show cause notice. en-us Thu, 30 Nov 2017 00:00:00 +0530 Sat, 02 Dec 2017 10:11:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351853 The Tribunal ruled in favor of the assessee, finding that the original re-assessment order was valid and not prejudicial to the Revenue's interests. The order under section 263 of the I.T. Act was challenged, with the Tribunal emphasizing the rule of consistency and upholding the A.O.'s view where two possible views exist. Additionally, the Tribunal allowed the TDS refund claim by the assessee-firm, noting that the income from the contract rightly belonged to the firm. Concerns regarding understated income and interest from SBI were dismissed as the Pr. CIT could not revise the assessment on grounds not specified in the show cause notice. Case-Laws Income Tax Thu, 30 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351853