https://www.taxtmi.com/caselaws?id=16095 The High Court upheld the Commissioner of Income-tax's authority to revise the assessment order under section 263 based on a valuation report submitted post-assessment, emphasizing the wide scope of the revisional power. The Court ruled in favor of the Revenue, stating that the Commissioner could consider new material not available during the initial assessment. The Tribunal was directed to assess the appeal's merits filed by the assessee, as it did not address the case's substance in the order under review. en-us Wed, 18 Feb 1998 00:00:00 +0530 Tue, 01 Sep 2009 10:40:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16095 The High Court upheld the Commissioner of Income-tax's authority to revise the assessment order under section 263 based on a valuation report submitted post-assessment, emphasizing the wide scope of the revisional power. The Court ruled in favor of the Revenue, stating that the Commissioner could consider new material not available during the initial assessment. The Tribunal was directed to assess the appeal's merits filed by the assessee, as it did not address the case's substance in the order under review. Case-Laws Income Tax Wed, 18 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16095