https://www.taxtmi.com/caselaws?id=389634 The Tribunal upheld the order passed under section 263, emphasizing the importance of correctly applying statutory provisions during assessments to avoid errors prejudicial to Revenue. The Principal Commissioner set aside the assessment order due to the Assessing Officer's failure to consider and apply section 184(5) of the Income Tax Act, directing reassessment after due procedure. The Tribunal affirmed this decision, dismissing the appeal and declaring the initial assessment order invalid. en-us Mon, 02 Dec 2019 00:00:00 +0530 Thu, 12 Dec 2019 20:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389634 The Tribunal upheld the order passed under section 263, emphasizing the importance of correctly applying statutory provisions during assessments to avoid errors prejudicial to Revenue. The Principal Commissioner set aside the assessment order due to the Assessing Officer's failure to consider and apply section 184(5) of the Income Tax Act, directing reassessment after due procedure. The Tribunal affirmed this decision, dismissing the appeal and declaring the initial assessment order invalid. Case-Laws Income Tax Mon, 02 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389634