1992 (11) TMI 75 - HC - Income Tax

Summary

The High Court of Delhi was asked to address two questions regarding the correctness of setting aside an order under section 263 by the Commissioner of Income-tax and the jurisdiction of the Commissioner to revise the assessment order. The case involved cash credits introduced by the assessee, leading to the Commissioner canceling the order and directing a re-assessment. The Tribunal ruled that the order of the Income-tax Officer had merged with the Commissioner's order and could not be revised under section 263. However, the matter became academic as the Income-tax Officer reopened the assessment and the Commissioner accepted the assessee's appeal, resulting in the deletion of the added items. Consequently, the reference was returned unanswered.