Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (9) TMI 1294 - AT - Income TaxRevision u/s 263 - whether the CIT in exercise of his powers vested under Section 263 can revise that reassessment order with the intention of bringing into the tax some other items which do not form part of the reasons recorded at the time of issuing notice under Section 148? - Held that:- The identical issue had come up before the Hon’ble Jurisdictional High Court in the case of CIT Vs. Software Consultants, [2012 (2) TMI 18 - DELHI HIGH COURT] wherein the Hon’ble Jurisdictional High Court after considering the ratio laid down in the case of Ranbaxy Laboratory Ltd. [2011 (6) TMI 4 - DELHI HIGH COURT] and CIT Vs. Jet Airways (I) Ltd., [2010 (4) TMI 431 - HIGH COURT OF BOMBAY] and CIT Vs. Shri Ram Singh, [2008 (5) TMI 200 - RAJASTHAN HIGH COURT ] held that when no addition was made regarding the item in respect of which reasons were recorded for reopening of the assessment, the Commissioner could not exercise his jurisdiction under Section 263 of the Act in order to bring to tax other items of additions. Respectfully following the ratio laid down in the above case, we hold that in the present case also the Commissioner of Income Tax is not justified in exercising the power under Section 263 of the Act. - Decided in favour of assessee.
|