SEC 263
This query is : Resolved
12 April 2009
WHETHER CIT CAN REVISE ASSESSMENT ORDER PASSED BY AO ON THE BASIS OF SUBSEQUENT SUPREME COURT DECISION.
ANSWER WILL BE SAME OR DIFFERENT IN CASE OF PRIOR SC DECISION.
ANSWER WILL BE SAME OR DIFFERENT IN CASE OF PRIOR SC DECISION.
12 April 2009
CIT does not have jurisdiction to revise on the basis of subsequent supreme court decision. Citation:- GM Mittal Stainless Steel Pvt Ltd 263 ITR 255 (SC).
As a corollary ,if there is prior decision CIT can revise.
As a corollary ,if there is prior decision CIT can revise.
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