2017 (10) TMI 1100

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..... anchanda, Sr. Standing Counsel for ITD. O R D E R 1. Issue notice. 2. Mr. Ashok K. Manchanda, learned counsel for the ITD accepts notice. 3. The assessee is aggrieved by the invocation of power - by the Commissioner under Section 263 of the Income Tax Act, 1961 (hereafter referred to as 'the Act').   4. The AO, for the relevant year i.e. 2011-12 had upheld the assessee's contention with .....

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..... (supra) itself took note of the circular of 09.03.2009, which in material particulars records as follows: "The matter regarding validity of approvals given by Development Commissioner has been examined in the Board. It has been decided that an approval granted by the Development Commissioner in the case of a hundred percent export oriented unit will be considered valid, once such an approval is .....

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..... eneral or a specific circular, which delegated the powers of the Board of Approvals, applied after the issuance of the 09.03.2009 circular, is however kept open for consideration. In case such contention is urged by the appellant before the Income Tax authorities, the same shall be considered on its own merits.   10. The appeal is dismissed, subject to the above observations.  
Cas .....

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