https://www.taxtmi.com/caselaws?id=12679 The High Court upheld the Commissioner of Income-tax's jurisdiction under section 263 of the Income-tax Act, finding the Income-tax Officer's failure to properly verify deductions as erroneous and prejudicial to the Revenue. The Court clarified that a Special Bench decision does not bind a Division Bench, emphasizing the need for proper verification of expenses under specific sub-clauses of section 35B(1)(b). It was held that materials not on record at the time of assessment can be considered for invoking jurisdiction under section 263. The case was decided in favor of the Revenue with no order as to costs. en-us Mon, 18 Mar 2002 00:00:00 +0530 Thu, 21 May 2009 11:26:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12679 The High Court upheld the Commissioner of Income-tax's jurisdiction under section 263 of the Income-tax Act, finding the Income-tax Officer's failure to properly verify deductions as erroneous and prejudicial to the Revenue. The Court clarified that a Special Bench decision does not bind a Division Bench, emphasizing the need for proper verification of expenses under specific sub-clauses of section 35B(1)(b). It was held that materials not on record at the time of assessment can be considered for invoking jurisdiction under section 263. The case was decided in favor of the Revenue with no order as to costs. Case-Laws Income Tax Mon, 18 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12679