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2010 (7) TMI 80 - HC - Income TaxErroneous order prejudicial to revenue power of CIT to revise u/s 263 Held that: - while discussing the exclusion of interest income for computation under Section 80HHC of the Act, the Commissioner of Income-tax was pleased to hold that the assessment order passed is both erroneous and prejudicial to the interests of the Revenue - In so far other issues are concerned, the Commissioner of Income-tax after holding that the orders are erroneous inasmuch as the earlier order passed by the Assessing Officer and the materials placed before him have not been considered for coming to such a conclusion and consequently the assessment order on those issues has been set aside and remanded back to the Assessing Officer for re-consideration. - the Tribunal while upholding the order of the Commissioner of Income-tax has also given a specific finding that the assessment order is both erroneous and prejudicial to the interest of the Revenue revision u/s 263 uphold.
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