https://www.taxtmi.com/caselaws?id=385582 The Tribunal set aside the CIT(E)'s order under section 263 of the IT Act for assessment year 2012-13, directing the Assessing Officer to re-examine issues and pass a fresh order after affording the assessee a hearing. The Tribunal found the Assessing Officer had considered the issues and passed a speaking order, with previous tribunal decisions supporting the assessee's position on exemption under section 11. Citing legal precedents, the Tribunal held the CIT(E) was not justified in assuming jurisdiction under section 263 as the Assessing Officer's order was not erroneous or prejudicial to revenue interests, ultimately allowing the appeal. en-us Fri, 06 Sep 2019 00:00:00 +0530 Mon, 09 Sep 2019 08:13:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385582 The Tribunal set aside the CIT(E)'s order under section 263 of the IT Act for assessment year 2012-13, directing the Assessing Officer to re-examine issues and pass a fresh order after affording the assessee a hearing. The Tribunal found the Assessing Officer had considered the issues and passed a speaking order, with previous tribunal decisions supporting the assessee's position on exemption under section 11. Citing legal precedents, the Tribunal held the CIT(E) was not justified in assuming jurisdiction under section 263 as the Assessing Officer's order was not erroneous or prejudicial to revenue interests, ultimately allowing the appeal. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385582