Law: Income Tax Act, 1961

Section: 144A,263

Income-tax----Revision---Draft assessment order---Powers of CIT under S.263---Order passed by ITO under directions given by IAC under S. 144A can be revised--¬ Indian Income Tax Act, 1961, Ss. 144A & 263. The order passed by the Income-tax Officer as per the direction given by the Inspecting Assistant Commissioner under section 144A of the income Tax Act, 1961, is amenable to the jurisdiction exercised by the Commissioner of Income-tax under section 263. Tarajan Tea Co. (P.) Ltd. v. CIT f 1994) 205 ITR 45 (Gauhati); CIT v. Christian Mica Industries Ltd. (1979) 120 ITR 627 (Cal.); CI.T v Dulichand Bhatia (1989) 175 ITR 634 (MP); CIT v. East Coast Marine Products (P.) Ltd. (1990) 181 ITR 314 (AP); CIT v. Gangaram Mohanlal Mittal & Sons (1990) 181 ITR 392 (MP); CIT v K. L. Rajput (1987) 164 ITR 197 (MP); CIT v. Satishkumar & Co. (1990) 181 ITR 57 (MP); CIT v: Vincentian Orissa Society (1992) 194 ITR 743 (Orissa); CIT v. Virwani (M.M.) (1994) 207 ITR 225 (Bom.); CIT.v. Vithal Textiles (1989) 175 ITR 629 (MP); Premier Cable Co. Ltd. v. CIT (1992) 193 ITR 719 (Ker.) and Torson Products Ltd. v. CIT (1988),173-ITR 611 (AP) fol. JUDGMENT K. A THANIKKCHALAM, J:---At the instance of the Department, the Tribunal referred the following question for the .opinion of this Court under section 256(1) of the Income Tax. Act, 1961: "Whether, section 263 of. the Income Tax Act, 1961, can be invoked to. revise an order of the assessment passed by the Income-tax Officer on the basis of directions issued by the Inspecting Assistant Commissioner under section 144A of the said Act?" In the assessment year 1971-72, the Income-tax Officer had made an assessment: The principal matter was assessment of capital gains arising or the sale of buses. The assessment matter came up in appeal at the instance of the Income-tax Officer before the Tribunal. Then tic Tribunal referred the case back to the Income-tax Officer to make a fresh assessment. While making the fresh assessment, the Inspecting Assistant Commissioner to whom the Income-tax Officer had under section 144A of the Income Tax Act, 1961, referred the matter for guidance had issued directions for the guidance of the…

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