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2011 (5) TMI 581 - AT - Income TaxRevision u/s 263 - CIT is required to exercise revisional power within the bounds of the law and has to satisfy the need of fairness in administrative action and fair play with due respect to the principle of audi alteram partem as envisaged in the Constitution of India as well in section 263 regarding the issue of interest on NPA - all points which have been made the basis for revising and coming to the conclusion that the order is erroneous in so far as it is prejudicial to the interests of Revenue, cannot survive in the eyes of law in view of our foregoing discussion - assessment order in the given case cannot be revised on the basis of the grounds stated above and which do not make the assessment order erroneous and also prejudicial to the interests of the Revenue - Appeal is allowed
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