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2003 (12) TMI 41 - HC - Income TaxOrder passed by the CIT under section 263 in directing the Income-tax Officer to go for reassessment on valuation at the market price - The initial order of assessment of the Income-tax Officer was obviously erroneous and consequently prejudicial to the interests of the Revenue – Therefore CIT was justified in passing order u/s 263 and directing the Income-tax Officer to go for reassessment on valuation at the market price
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