https://www.taxtmi.com/caselaws?id=39606 The High Court upheld the Tribunal's decision in favor of the assessee firm regarding the change in the previous year, ruling that the original assessment orders were not erroneous based on the change. The Court emphasized the need for reasonable consent from the Income-tax Officer for changing the previous year, even after the new year has commenced. The Commissioner's order under section 263(1) of the Income-tax Act, 1961, was deemed invalid as the original assessment was not found to be prejudicial to the revenue. The assessee was awarded costs of Rs. 200. en-us Fri, 24 May 1974 00:00:00 +0530 Mon, 19 Apr 2010 11:19:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39606 The High Court upheld the Tribunal's decision in favor of the assessee firm regarding the change in the previous year, ruling that the original assessment orders were not erroneous based on the change. The Court emphasized the need for reasonable consent from the Income-tax Officer for changing the previous year, even after the new year has commenced. The Commissioner's order under section 263(1) of the Income-tax Act, 1961, was deemed invalid as the original assessment was not found to be prejudicial to the revenue. The assessee was awarded costs of Rs. 200. Case-Laws Income Tax Fri, 24 May 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39606