https://www.taxtmi.com/caselaws?id=59159 The Appellate Tribunal allowed the additional ground raised by the assessee, citing broad powers granted to the Tribunal under section 254. The Tribunal determined the time limit for passing an order under section 263 based on the final order effecting the assessment. It found that the Commissioner's order lacked clarity on how the assessment was prejudicial to the Revenue's interest. The Tribunal ruled in favor of the assessee, invalidating the decision to set aside the assessment. The appeal was partially allowed, favoring the assessee on the issue of setting aside the assessment order based on the set off of carried forward losses. en-us Mon, 28 Dec 1992 00:00:00 +0530 Sat, 25 Dec 2010 13:05:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59159 The Appellate Tribunal allowed the additional ground raised by the assessee, citing broad powers granted to the Tribunal under section 254. The Tribunal determined the time limit for passing an order under section 263 based on the final order effecting the assessment. It found that the Commissioner's order lacked clarity on how the assessment was prejudicial to the Revenue's interest. The Tribunal ruled in favor of the assessee, invalidating the decision to set aside the assessment. The appeal was partially allowed, favoring the assessee on the issue of setting aside the assessment order based on the set off of carried forward losses. Case-Laws Income Tax Mon, 28 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59159