https://www.taxtmi.com/caselaws?id=286778 The court held that the CIT, Shillong did not have jurisdiction to pass the order under Section 263 of the IT Act as the assessment orders were based on prevailing judicial decisions. The treatment of transport subsidies as non-taxable was upheld as it was based on the law at the time of assessment. The court emphasized that the CIT cannot revise assessments based on subsequent legal changes. The appeals were allowed, quashing the Tribunal's orders and setting aside the assessment orders, with parties bearing their own costs. en-us Tue, 19 Sep 2006 00:00:00 +0530 Sat, 14 Mar 2020 11:26:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286778 The court held that the CIT, Shillong did not have jurisdiction to pass the order under Section 263 of the IT Act as the assessment orders were based on prevailing judicial decisions. The treatment of transport subsidies as non-taxable was upheld as it was based on the law at the time of assessment. The court emphasized that the CIT cannot revise assessments based on subsequent legal changes. The appeals were allowed, quashing the Tribunal's orders and setting aside the assessment orders, with parties bearing their own costs. Case-Laws Income Tax Tue, 19 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286778