https://www.taxtmi.com/caselaws?id=297030 The court held that the Commissioner's revision of the assessment under section 263 was invalid due to being beyond the two-year time limit specified in the Income-tax Act. The show cause notice was issued after the expiration of the prescribed period, rendering the Commissioner's order unsustainable. The appeal was allowed solely on the grounds of legality, without addressing the merits of the case, emphasizing the significance of complying with statutory timelines and conducting comprehensive inquiries in tax assessments. en-us Fri, 08 Aug 2014 00:00:00 +0530 Mon, 16 Aug 2021 21:16:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297030 The court held that the Commissioner's revision of the assessment under section 263 was invalid due to being beyond the two-year time limit specified in the Income-tax Act. The show cause notice was issued after the expiration of the prescribed period, rendering the Commissioner's order unsustainable. The appeal was allowed solely on the grounds of legality, without addressing the merits of the case, emphasizing the significance of complying with statutory timelines and conducting comprehensive inquiries in tax assessments. Case-Laws Income Tax Fri, 08 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297030