https://www.taxtmi.com/caselaws?id=13761 The HC dismissed the case, upholding the Tribunal's decision that the Commissioner was not justified in revising the assessment order under Section 263 of the Income Tax Act. The Court found that the order was neither erroneous nor prejudicial to revenue, emphasizing that Section 263 requires both conditions to be met. The HC also supported the Tribunal's interpretation of Section 10B, noting the allowance for multiple interpretations regarding deductions on export profits. The Court concluded no substantial questions of law warranted interference, affirming the Tribunal's view and dismissing the case without costs. en-us Wed, 13 Jun 2007 00:00:00 +0530 Fri, 09 Feb 2024 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13761 The HC dismissed the case, upholding the Tribunal's decision that the Commissioner was not justified in revising the assessment order under Section 263 of the Income Tax Act. The Court found that the order was neither erroneous nor prejudicial to revenue, emphasizing that Section 263 requires both conditions to be met. The HC also supported the Tribunal's interpretation of Section 10B, noting the allowance for multiple interpretations regarding deductions on export profits. The Court concluded no substantial questions of law warranted interference, affirming the Tribunal's view and dismissing the case without costs. Case-Laws Income Tax Wed, 13 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13761