Revision under section 263 ::

Court :
HC

Brief :
Held by the Hon`ble Court that, an order cannot be treated as an erroneous order prejudicial to the interest of the revenue unless the view taken by the A.O. is unsustainable in law. Therefore exercise power under section 263 is not justified in law.

Citation :
C.I.T. Vs. Mepco Industries Ltd.

Revision under section 263 C.I.T. Vs. Mepco Industries Ltd. 11/02/2006 [2007] 294 ITR 121 (Mad) Case Fact: Whether, where two views are possible and commissioner does not agree with A.O.`s view, exercise power under section 263 is justified in law Decision: Held by the Hon`ble Court that, an order cannot be treated as an erroneous order prejudicial to the interest of the revenue unless the view taken by the A.O. is unsustainable in law. Therefore exercise power under section 263 is not justified in law.

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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