https://www.taxtmi.com/caselaws?id=432431 The High Court held that the Commissioner of Income Tax (CIT) had the jurisdiction under Section 263 of the Income Tax Act, 1961 to revise the assessment. The Court determined that the orders passed by the Assessing Officer were erroneous and prejudicial to the revenue's interests. The CIT's power to revise the assessment was deemed appropriate, and the appeal was allowed in favor of the appellant revenue without costs. en-us Wed, 21 Dec 2022 00:00:00 +0530 Mon, 26 Jun 2023 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432431 The High Court held that the Commissioner of Income Tax (CIT) had the jurisdiction under Section 263 of the Income Tax Act, 1961 to revise the assessment. The Court determined that the orders passed by the Assessing Officer were erroneous and prejudicial to the revenue's interests. The CIT's power to revise the assessment was deemed appropriate, and the appeal was allowed in favor of the appellant revenue without costs. Case-Laws Income Tax Wed, 21 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432431