TMI Blog2009 (8) TMI 750X X X X Extracts X X X X X X X X Extracts X X X X ..... thority not a concluded assessment till expiry of time limit for such modification – Assessment order remanded for modification in appeal – Subsequent revision of order – Permissible - - - - - Dated:- 3-8-2009 - RAMACHANDRAN NAIR C. N., ABDUL REHIM C. K., JJ JUDGMENT C. N. Ramachandran Nair J.- This is an appeal filed by the assessee-bank against the order of the Tribunal confirmi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt and remanded the case for revision of assessment by the Assessing Officer. In between, the Commissioner of Income-tax noticed that the Assessing Officer has not taken into account section 14A while completing the original assessment and therefore by order issued under section 263 he directed pro rata disallowance in terms of section 14A. Against this order issued under section 263 the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income-tax (Appeals). In fact the Commissioner has issued a suo motu order under section 263 directing pro rata disallowance of expenditure incurred in respect of items of income which do not form part of the total income of the assessee when the assessment was pending before the officer for finalization based on the orders of the first appellate authority on other issues. So much so the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 263(2) of the Act. An assessment which could be modified by a higher authority cannot be said to have become final or concluded until expiry of the statutory time provided for such orders because it is always subject to revision by higher authority within the time stipulated under the statute. So much so we feel the circular prohibits against modification of assessment for the purpos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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