https://www.taxtmi.com/caselaws?id=353501 The Commissioner revised the assessment order under section 263 for A.Y. 2008-09, deeming the Assessing Officer's assessment under section 143(3) as erroneous and prejudicial to revenue. The appellant's contentions of illegality and lack of consideration were dismissed, with the Commissioner upholding the revision based on the inadequately verified capital gains aspects. The Commissioner's decision necessitated further verification of property sale details, acquisition year, indexation, and cost of improvement for accurate tax assessment, leading to the remittance of the matter for additional examination. en-us Tue, 02 Jan 2018 00:00:00 +0530 Mon, 12 Feb 2018 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353501 The Commissioner revised the assessment order under section 263 for A.Y. 2008-09, deeming the Assessing Officer's assessment under section 143(3) as erroneous and prejudicial to revenue. The appellant's contentions of illegality and lack of consideration were dismissed, with the Commissioner upholding the revision based on the inadequately verified capital gains aspects. The Commissioner's decision necessitated further verification of property sale details, acquisition year, indexation, and cost of improvement for accurate tax assessment, leading to the remittance of the matter for additional examination. Case-Laws Income Tax Tue, 02 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353501