In the result, the stay application filed by the assessee is dismissed
Bench: Shri Kul Bharatshri Manish Borad
282 (SC) wherein it is held that: "The phrase 'prejudicial to the interests of the Revenue" in S. 263 of the Income Tax Act, 1961, has to be read in conjunction with the expression "erroneous" order passed by the Assessing Officer. Every loss of revenue as a consequence of an order of the Assessing Officer cannot be treated as prejudicial