https://www.taxtmi.com/caselaws?id=60517 The Appellate Tribunal upheld the validity of the proceedings initiated under section 263 by the Commissioner. However, it disagreed with the decision to cancel the assessment entirely and direct a fresh assessment. Instead, the Tribunal modified the Commissioner's order, instructing the Income Tax Officer to re-examine the matter of charging interest under section 217 and make a decision after providing the assessee with an opportunity to be heard. Various court decisions were referenced to support the view that the failure to charge interest could be considered an error warranting action under section 263. The Tribunal partly allowed the appeal of the assessee, modifying the Commissioner's order while upholding the initiation of proceedings under section 263. en-us Tue, 25 Mar 1986 00:00:00 +0530 Wed, 05 Jan 2011 17:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60517 The Appellate Tribunal upheld the validity of the proceedings initiated under section 263 by the Commissioner. However, it disagreed with the decision to cancel the assessment entirely and direct a fresh assessment. Instead, the Tribunal modified the Commissioner's order, instructing the Income Tax Officer to re-examine the matter of charging interest under section 217 and make a decision after providing the assessee with an opportunity to be heard. Various court decisions were referenced to support the view that the failure to charge interest could be considered an error warranting action under section 263. The Tribunal partly allowed the appeal of the assessee, modifying the Commissioner's order while upholding the initiation of proceedings under section 263. Case-Laws Income Tax Tue, 25 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60517