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2023 (2) TMI 509 - AT - Income TaxRevision u/s 263 by CIT - Undisclosed sundry debtors - HELD THAT:- The simple reason for such embargo is that there should not be contradictory orders at the level of identical authorities. CIT(Appeals) has co-terminus power of the ld. AO. In case it noticed any irregularity or illegality in an assessment order that can be taken care by the ld. 1st Appellate Authority by exercising his power for enhancement of income. Therefore, on such items, no supervision at the end of the ld. Commissioner under section 263 is contemplated in the Scheme of the Act. Addition of Rs.1,02,00,000/- is already subject matter of appeal before the ld. CIT(Appeals) and the ld. CIT(Appeals) would always look forward whether it required to be charged to tax under section 115BBE @ 60% or at normal rate. It is yet to be determined how much addition stands and what is the source of such addition to the income of the assessee. Therefore, all these subject matter can easily be looked into by the ld. 1s t Appellate Authority. The ld. CIT under section 263 has no jurisdiction on such a claim. TCS credit - It is to be appreciated that this aspect has been considered by the ld. Assessing Officer before allowing the credit. There is no apparent error in the order of the ld. Assessing Officer on this point. Therefore, we are of the view that ld. Commissioner has erred in invoking jurisdiction under section 263 of the Income Tax Act. Assessee appeal allowed.
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