Revision of orders, prior approval from Inspecting Assistant Commissioner - Income Tax - 513/CBDT

INSTRUCTION NO. 513/CBDT Dated : Feburary 23, 1973 Attention is invited to Board's Instruction No.391 dated the 13th March, 1972, issued in File No. 313/14/72-E.D. on the subject mentioned above. In partial modification of the instructions contained therein, it is now desired that all the cases where revision of Wealth-tax/Gift-tax assessments pursuant to appellate orders results in reduction/enhancement of Wealth-tax/Gift-tax by a sum exceeding Rs.25,000/- the Wealth-tax Officer/Gift-tax Officer should take the prior approval of the Inspecting Assistant Commissioner before passing the revision orders.