https://www.taxtmi.com/caselaws?id=60235 The Tribunal upheld the Commissioner's decision to revise the assessment under section 263 of the IT Act, 1961, finding the initial assessment erroneous and prejudicial to the Revenue due to lack of proper enquiry into the taxability of prize money received by the assessee in cricket tournaments. The Tribunal dismissed the appeal but directed the Income Tax Officer to conduct a fresh assessment, allowing the assessee to rely on a previous Tribunal order regarding the taxability of the prize money. en-us Thu, 07 Jul 1988 00:00:00 +0530 Tue, 04 Jan 2011 13:25:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60235 The Tribunal upheld the Commissioner's decision to revise the assessment under section 263 of the IT Act, 1961, finding the initial assessment erroneous and prejudicial to the Revenue due to lack of proper enquiry into the taxability of prize money received by the assessee in cricket tournaments. The Tribunal dismissed the appeal but directed the Income Tax Officer to conduct a fresh assessment, allowing the assessee to rely on a previous Tribunal order regarding the taxability of the prize money. Case-Laws Income Tax Thu, 07 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60235