1996 (2) TMI 122 - HC - Income Tax

Summary

The High Court of Allahabad ruled that the Commissioner of Income-tax had jurisdiction to revise the order of the Income-tax Officer under section 263(1) of the Income-tax Act, 1961, based on the insertion of section 263(1)(c) by the Finance Act, 1989. The Tribunal's decision was quashed, and the case was sent back for reconsideration in light of the amended provision.