Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2009 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (6) TMI 570 - HC - Income TaxRevision- Whether on the facts and in the circumstances of the case and in law the Income-tax Appellate Tribunal was justified in upholding the order of the Commissioner of Income-tax (respondent No. 2) in exercising revisional power vested in him under section 263 of the Income-tax Act, 1961 whereby respondent No. 2 set aside the assessment order passed by the Assessing Officer ? Whether on the facts and in the circumstances of the case and in law, the Income-tax Appellate Tribunal was justified in its view that the payment made by the assessee to M/s. Nehru Centre entitled ‘goodwill’ was capital in nature ? Held that- the order was found to be erroneous by the revisional authority, but nowhere the finding was recorded that the order passed by Assessing Officer was prejudicial to the interests of the revenue, it was not open for the revisional authority to assume jurisdiction. The revision was not valid.
|