https://www.taxtmi.com/caselaws?id=57053 The Tribunal upheld the Commissioner of Income-tax's jurisdiction under section 263, ruling that the dropping of proceedings by the Assessing Officer constituted an order subject to revision. The Tribunal found the proceedings initiated under section 147 to be invalid due to oversight of material evidence and directed reassessment as the original order was erroneous and prejudicial to revenue. The Tribunal affirmed the CIT's decision to cancel the AO's order dropping proceedings, dismissing the appellant's appeal. en-us Thu, 05 Mar 1998 00:00:00 +0530 Wed, 08 Dec 2010 11:34:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57053 The Tribunal upheld the Commissioner of Income-tax's jurisdiction under section 263, ruling that the dropping of proceedings by the Assessing Officer constituted an order subject to revision. The Tribunal found the proceedings initiated under section 147 to be invalid due to oversight of material evidence and directed reassessment as the original order was erroneous and prejudicial to revenue. The Tribunal affirmed the CIT's decision to cancel the AO's order dropping proceedings, dismissing the appellant's appeal. Case-Laws Income Tax Thu, 05 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57053