https://www.taxtmi.com/caselaws?id=26850 The High Court affirmed the Commissioner of Income-tax's jurisdiction under section 263 to set aside the Income-tax Officer's order, ruling that the Commissioner rightly considered the assessment order prejudicial to Revenue's interests based on a clarifying High Court judgment. The Court emphasized the Commissioner's authority to rectify errors under section 263, distinguishing the case from precedent where relevant information was not available at the time of assessment. The decision underscored the importance of applying the law as it stood during assessment and ensuring compliance with legal provisions for tax assessments. en-us Fri, 17 Jan 1986 00:00:00 +0530 Mon, 08 Feb 2010 18:41:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26850 The High Court affirmed the Commissioner of Income-tax's jurisdiction under section 263 to set aside the Income-tax Officer's order, ruling that the Commissioner rightly considered the assessment order prejudicial to Revenue's interests based on a clarifying High Court judgment. The Court emphasized the Commissioner's authority to rectify errors under section 263, distinguishing the case from precedent where relevant information was not available at the time of assessment. The decision underscored the importance of applying the law as it stood during assessment and ensuring compliance with legal provisions for tax assessments. Case-Laws Income Tax Fri, 17 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26850