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2015 (2) TMI 1193 - AT - Income TaxRevision u/s 263 - validity of notice - Held that:- Section 263 of the Act gives power to the ld. CIT to examine the records under the provisions of the Act and if he finds order passed therein by the AO is erroneous or prejudicial to the interests of the revenue, he may after giving the assessee an opportunity of being heard pass an order. Section postulates that assessment order has to be considered and examined by the ld. CIT himself before he considers it erroneous and gives notice to the assessee. In this case we find that notice u/s 263 of the Act has been issued by ITO, Technical-XX, Kolkata. The records of the revenue do not show that there was any examination of records by the ld. CIT himself before issuing of notice u/s 263 of the Act. In absence of valid notice issued u/s 263 of the Act the jurisdiction assumed by the ld. CIT is bad and hence the order passed u/s 263 of the Act is not sustainable. Accordingly in the background of the aforesaid discussion in our considered opinion the jurisdiction assumed by the ld. CIT u/s 263 of the Act in absence of proper notice u/s 263 of the Act is bad. Hence order passed u/s 263 of the Act is liable to be quashed.- Decided in favour of assessee
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