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2006 (1) TMI 67 - HC - Income TaxSection 263 - summary assessment - "Whether, Tribunal was right in holding that the Commissioner of Income-tax, Surat, was not justified to pass the order under section 263 of the Income-tax Act, 1961, in the case of the assessee relating to the assessment year 1986-87?" The assessment year is 1986-87. Commissioner of Income-tax, being bound by the directions of the Central Board of Direct Taxes, could not have exercised powers under section 263 of the Act in the present case when the assessment in question was in the nature of a summary assessment - Considering the fact that the court has taken the view that the exercise of powers under section 263 of the Act was without jurisdiction, it is not necessary to enter into the merits of the controversy. The question is accordingly answered in the affirmative, i.e., in favour of the assessee and against the Revenue.
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