2001 (7) TMI 1299 - HC - Income Tax

Summary

The High Court of Gujarat ruled in favor of the revenue in a case involving the validity of an order passed by the Commissioner of Income Tax under Section 263. The Court agreed with the Andhra Pradesh High Court's decision and held that the Commissioner was empowered to revise the order passed by the Assessing Officer under Section 143(3) read with Section 144-B of the Income Tax Act. The reference was disposed of with no costs.