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SEC 263

This query is : Resolved 
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(Querist)
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.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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.
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