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2016 (3) TMI 423 - SC - Income TaxAvailability of the revisional power under Section 263 in respect of the orders passed by the inspecting Assistant Commissioner of Taxes - Held that - These cases will be decided on merits by answering the question of law only after the Revenue satisfies the Court that the question posed is a live issue in other adjudications. List these cases again on 17th March, 2016. As directed, this order be brought to the notice of the Chairman of the Central Board of Direct Taxes.
Issues: Availability of revisional power under Section 263 of the Income Tax Act, 1961 in respect of orders passed by the inspecting Assistant Commissioner of Taxes
In the judgment delivered by the Supreme Court, the court expressed deep disappointment with the Revenue and concerned officers for their lack of assistance in tax appeals pending before the court. The main issue at hand was the availability of revisional power under Section 263 of the Income Tax Act, 1961 concerning orders passed by the inspecting Assistant Commissioner of Taxes. The court highlighted the need for prompt remedial measures to address the large number of pending tax appeals. The question of law to be answered was in the context of the provisions of Sections 125 and 263 of the Act, as amended in 1984 and 1988. The court noted that the question had become academic as the tax liability of the assessee had already been decided in their favor in previous and subsequent assessment years. Despite this, the Additional Solicitor General urged the court to decide the question of law as it might still be relevant in other cases. The court emphasized that the issue should not be left open and directed that the cases would be decided on their merits only if the Revenue could demonstrate that the question posed was a live issue in other adjudications. The cases were listed again for further consideration on 17th March 2016, and the order was to be brought to the attention of the Chairman of the Central Board of Direct Taxes for necessary action.
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