https://www.taxtmi.com/caselaws?id=12206 HC set aside the Commissioner's order under section 26/263 that had declared the ITO's assessment erroneous and prejudicial to revenue. The court found the Tribunal's factual finding that the assessee (a partnership in jewellery trade) had produced material and explanations in response to notices and that the ITO considered those and reached a definite view. Because relevant material was on record and examined by the ITO, the Commissioner could not invalidate the assessment merely because a different view was possible; the action under section 263 was unjustified. en-us Fri, 19 Jul 2002 00:00:00 +0530 Tue, 30 Sep 2025 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12206 HC set aside the Commissioner's order under section 26/263 that had declared the ITO's assessment erroneous and prejudicial to revenue. The court found the Tribunal's factual finding that the assessee (a partnership in jewellery trade) had produced material and explanations in response to notices and that the ITO considered those and reached a definite view. Because relevant material was on record and examined by the ITO, the Commissioner could not invalidate the assessment merely because a different view was possible; the action under section 263 was unjustified. Case-Laws Income Tax Fri, 19 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12206