TMI Blog2006 (1) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee relating to the assessment year 1986-87?" The assessment year is 1986-87. Heard Mr. T.U. Bhatt, learned standing counsel for the applicant-Revenue. Though served, there is no appearance on behalf of the respondent-assessee. The facts stated briefly are that the Assessing Officer had made assessment under section 143(1) of the Act on March 8, 1988. The Commissioner of Income-tax, being ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... framed under section 143(1) of the Act. That the Central Board of Direct Taxes had vide its Circular No. RA/86-87/DIT dated August 26, 1987, directed that no remedial action is necessary in summary cases. The Tribunal held that, admittedly, the assessee's case for the assessment year 1986-87 was in the nature of summary assessment, and that, therefore, in view of the directions of the Central Boar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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