https://www.taxtmi.com/caselaws?id=433909 The appeal filed by the revenue challenging an order passed by the Income Tax Appellate Tribunal under Section 263 of the Income Tax Act was dismissed. The Tribunal found that the Commissioner of Income Tax had no jurisdiction under Section 263 as the assessing officer had already considered all details during the original assessment and accepted the assessee's contentions after thorough examination, supported by relevant case law. The Tribunal emphasized the assessing officer's informed decision-making process and the lack of grounds for invoking Section 263, ultimately ruling in favor of the assessee and against the revenue. en-us Thu, 09 Feb 2023 00:00:00 +0530 Sat, 11 Feb 2023 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433909 The appeal filed by the revenue challenging an order passed by the Income Tax Appellate Tribunal under Section 263 of the Income Tax Act was dismissed. The Tribunal found that the Commissioner of Income Tax had no jurisdiction under Section 263 as the assessing officer had already considered all details during the original assessment and accepted the assessee's contentions after thorough examination, supported by relevant case law. The Tribunal emphasized the assessing officer's informed decision-making process and the lack of grounds for invoking Section 263, ultimately ruling in favor of the assessee and against the revenue. Case-Laws Income Tax Thu, 09 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433909