On an appeal preferred by the Revenue against the order of the Tribunal, the Hon’ble Meghalaya High Court had to decide on questions relating to the finality of assessment order passed by AO under section 263 read with section 143(3) of the Act. The Hon’ble Court observed that, when an order of assessment is found to be erroneous and prejudicial to the interests of the Revenue, the right vests with the Principal Commissioner to review such order. In the instant case, it was observed that once the order under section 263 had attained finality, a subsequent order passed by the AO under section 143(3) read with section 263 of the Act was unsustainable. Accordingly, the Revenue’s appeal was dismissed. (AY. 2014-15)