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| The Tax Publishers2019 TaxPub(DT) 4077 (Del-HC) INCOME TAX ACT, 1961
Section 263
Where Court for assessment year 2010-11 in case of same assessee on similar facts upheld order of Tribunal setting aside revision order passed by PCIT, therefore following the same, instant appeal of revenue was dismissed for relevant assessment year 2011-12.
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Revision under section 263 - Validity - Subsequent change in tax slab rate, whether warants interference in already concluded matter in case of same assessee -
Revenue in relation to assessment year 2011-12, challenged order of Tribunal, wherein revision order passed by PCIT under section 263 was quashed. Held: Similar order passed by PCIT in case of same assessee for assessment year 2010-11 under section 263 was quashed by Tribunal. Further, appeal before High Court against the said order for assessment year 2010-11, was dismissed by High Court. Revenue had contended that there was change in tax/slab rate and therefore facts in case of assessee for relevant assessment year were distinguished. However, AO had taken note of the said changes of tax rates in assessment order passed under section 143(3). Therefore, no substantial question of law arose for consideration in instant appeal.
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
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