TMI Blog1991 (6) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... the case, the Appellate Tribunal is right in law in holding that the Commissioner of Income-tax was not justified in invoking his powers under section 263 of the Income-tax Act, 1961, with reference to the material which came on record very much later than the making of the assessment for the assessment year 1975-76 in either case, that is, the declarations in the mortgage deed, records of the Cor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Commissioner was not justified in relying on materials which were not there before the assessing authority at the time when the assessment was made. The said view of the Appellate Tribunal is supported by the ruling of the Calcutta High Court in Ganga Properties v. ITO [1979] 118 ITR 447. The said finding as such has not been challenged by the Revenue which is before us, but, according ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the scope of this provision and, therefore, it cannot be said that the above argument, touching upon this question, does arise out of the order of the Tribunal. The only aspect that is required to be considered is as to whether the Tribunal was justified in holding that the Commissioner has no power to look into the materials which were not available at the time when the assessing authority passed ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
