2003 (1) TMI 7 - SC - Income Tax

Whether the Tribunal was right in holding that the CIT had no jurisdiction u/s 263 to revise an order passed by the Income-tax Officer with the approval of the Inspecting Assistant Commissioner u/s 144B - having regard to the subsequent amendments to the Act issued from time to time there was no scope for limiting the phrase order passed by the Income-tax Officer in s. 263 to exclude orders passed by the Income-tax Officer on the directions of a superior authority either u/s 144A/144B.

Summary

The Supreme Court dismissed the appeal regarding the jurisdiction of the Commissioner of Income-tax to revise orders passed by the Income-tax Officer with the approval of the Inspecting Assistant Commissioner under section 144B. The court upheld the High Court's decision, stating that the phrase "order passed by the Income-tax Officer" in section 263 includes orders passed under the directions of a superior authority under sections 144A or 144B. The appeals were dismissed with no order as to costs.