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2002 (10) TMI 45 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in cancelling the order of the Commissioner of Income-tax under section 263 without going into the question whether the Commissioner had validly exercised his powers under section 263 of the Income-tax Act, 1961 ?" - The assessment made under section 143(1) of the Act is revisable under section 263 of the Act. Section 263 of the Income-tax Act does not lay down any such restriction on the powers of the Commissioner. A restriction which is not set out on the width of the Commissioner's revisional power is not to be lightly read into the statute. - We answer the question referred to us in negative and against the assessee, and in favour of the Revenue.
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