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2009 (7) TMI 27 - HC - Income TaxRevision – Section 263 - it was provided that power under Section 263 of the Act could be exercised even if an order of assessment had been subject matter of appeal. The amendment was, on its terms, retrospective and covers every appeal, which may have been filed on or before or after 1.6.1988 and, thus, the present case was covered by the said amendment. Judgments of Hon’ble the Supreme Court in Commissioner of Income Tax Vs. Shri Arbuda Mills Ltd. [2008 -TMI - 5650 - SUPREME Court] and judgment of Bombay High Court in Commissioner of Income Tax Vs. Ratilal Bacharilal and sons [2008 -TMI - 9547 - BOMBAY High Court] followed. - once order of assessment had been appealed against, the same can also be thereafter subjected to revision under Section 263 of the Act.
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