https://www.taxtmi.com/caselaws?id=15727 The court ruled in favor of the Revenue and against the assessee on all three questions referred. The judgment clarified that the Commissioner of Income-tax can exercise revisional powers under section 263 even if the original assessments were not affected. It was established that dropping proceedings under section 147 does not constitute reassessment, allowing the Commissioner to retain jurisdiction for revision. The court directed the Tribunal to examine the case's merits based on these interpretations of the relevant provisions of the Income-tax Act. en-us Mon, 31 Aug 1998 00:00:00 +0530 Thu, 27 Aug 2009 13:16:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15727 The court ruled in favor of the Revenue and against the assessee on all three questions referred. The judgment clarified that the Commissioner of Income-tax can exercise revisional powers under section 263 even if the original assessments were not affected. It was established that dropping proceedings under section 147 does not constitute reassessment, allowing the Commissioner to retain jurisdiction for revision. The court directed the Tribunal to examine the case's merits based on these interpretations of the relevant provisions of the Income-tax Act. Case-Laws Income Tax Mon, 31 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15727