The Tribunal held that the assessee had filed the details of capital gains arising out of sale of fixed assets with copies of the sale deed and calculations. All the details called for by the Assessing Officer on various occasions along with other details including the audited balance-sheet and tax audit report had been furnished and the Assessing Officer had thoroughly examined the transaction of sale of land, building and furniture by going through the purchase deed, sale deed, calculation of capital gains, the written down value appearing in the balance-sheet, the notes attached to the balance-sheet and the details of sale of land, building and furniture appearing in form 3CD attached to the tax audit report under section 44AB of the Act. Thus, the order of the Assessing Officer was not erroneous in nature. On computation of capital gains separately for sale of land and sale of building, the result would be short-term capital loss. If the capital gains were calculated in the manner as directed by the Principal Commissioner, the assessment so framed shall be prejudicial to the interests of the Revenue. Therefore, where the purchase of land and building and sale of land and building were covered under a single deed of purchase and sale, the calculation made by the Assessing Officer showing short-term capital gains of Rs. 27,31,810 which had been valued in detail by the Assessing Officer, was not prejudicial to the interests of the Revenue.The Principal Commissioner had erred in assuming jurisdiction under section 263 of the Act. Therefore, the order of the Principal Commissioner was to be quashed. (AY.  2017-18)