https://www.taxtmi.com/caselaws?id=302012 The Appellate Tribunal set aside the Commissioner's order under section 263 of the Income Tax Act due to the lack of established error by the Assessing Officer in the valuation of work-in-progress and profit element. However, the Tribunal confirmed the Commissioner's order regarding mistakes in the assessment order related to total income and interest calculation, emphasizing the Commissioner's jurisdiction to intervene when the Assessing Officer's order is erroneous and prejudicial to revenue. en-us Tue, 06 Jun 2017 00:00:00 +0530 Sat, 30 Apr 2022 08:11:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302012 The Appellate Tribunal set aside the Commissioner's order under section 263 of the Income Tax Act due to the lack of established error by the Assessing Officer in the valuation of work-in-progress and profit element. However, the Tribunal confirmed the Commissioner's order regarding mistakes in the assessment order related to total income and interest calculation, emphasizing the Commissioner's jurisdiction to intervene when the Assessing Officer's order is erroneous and prejudicial to revenue. Case-Laws Income Tax Tue, 06 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302012