https://www.taxtmi.com/caselaws?id=372576 The High Court upheld the decision of the appellate tribunal in setting aside the Commissioner of Income Tax's order for reassessment. The Court emphasized that the Revenue's arguments did not raise any substantial question of law, as the acceptance of revised returns and allowance of deductions were not found to be erroneous or prejudicial to the Revenue. The Court highlighted the mandatory conditions for revision under Section 263 of the Income Tax Act, emphasizing the need for both error and prejudice. As no substantial question of law was identified, the appeals were dismissed with no order as to costs. en-us Wed, 19 Dec 2018 00:00:00 +0530 Tue, 25 Dec 2018 08:25:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372576 The High Court upheld the decision of the appellate tribunal in setting aside the Commissioner of Income Tax's order for reassessment. The Court emphasized that the Revenue's arguments did not raise any substantial question of law, as the acceptance of revised returns and allowance of deductions were not found to be erroneous or prejudicial to the Revenue. The Court highlighted the mandatory conditions for revision under Section 263 of the Income Tax Act, emphasizing the need for both error and prejudice. As no substantial question of law was identified, the appeals were dismissed with no order as to costs. Case-Laws Income Tax Wed, 19 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372576