https://www.taxtmi.com/caselaws?id=24581 The High Court of Madhya Pradesh held that the Commissioner of Income-tax had the authority under section 263 of the Income-tax Act to revise an assessment order passed in compliance with the directions of the Inspecting Assistant Commissioner under section 144B. The Court ruled against the assessee, stating that the Commissioner could set aside the assessment order if it was prejudicial to the Revenue's interests. The Tribunal's decision in favor of the assessee was overturned, and each party was ordered to bear their own costs in the reference. en-us Thu, 22 Sep 1988 00:00:00 +0530 Thu, 21 Jan 2010 10:25:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24581 The High Court of Madhya Pradesh held that the Commissioner of Income-tax had the authority under section 263 of the Income-tax Act to revise an assessment order passed in compliance with the directions of the Inspecting Assistant Commissioner under section 144B. The Court ruled against the assessee, stating that the Commissioner could set aside the assessment order if it was prejudicial to the Revenue's interests. The Tribunal's decision in favor of the assessee was overturned, and each party was ordered to bear their own costs in the reference. Case-Laws Income Tax Thu, 22 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24581