https://www.taxtmi.com/caselaws?id=392041 The Tribunal overturned the Commissioner of Income Tax's decision under section 263, ruling in favor of the assessee. It held that the original return of income was valid, allowing the carry forward of business loss. The Tribunal found the assessment order revision unjustified and restored the original assessment order, deeming the exercise of power under section 263 as unwarranted. en-us Thu, 28 Nov 2019 00:00:00 +0530 Wed, 12 Feb 2020 08:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392041 The Tribunal overturned the Commissioner of Income Tax's decision under section 263, ruling in favor of the assessee. It held that the original return of income was valid, allowing the carry forward of business loss. The Tribunal found the assessment order revision unjustified and restored the original assessment order, deeming the exercise of power under section 263 as unwarranted. Case-Laws Income Tax Thu, 28 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392041