Condonation of Delay denied: communication lapses and corporate restructuring found insufficient; prolonged inaction and lack of bona fides led to ref...
Export Support intervention INSIGHT launched to provide non financial capacity building, trade intelligence and pilot support with defined funding and...
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ITAT held that a revision under section 263 could not be exercised where the assessment order had been passed in conformity with directions of the DRP, a superior collegial authority. Once the AO gives effect to binding DRP directions and frames the final order accordingly, the Commissioner lacks revisional jurisdiction over that order. On that basis, the section 263 order was quashed for want of jurisdiction, and the remaining grounds were treated as infructuous.
ITAT held that a revision under section 263 could not be exercised where the assessment order had been passed in conformity with directions of the DRP, a superior collegial authority. Once the AO gives effect to binding DRP directions and frames the final order accordingly, the Commissioner lacks revisional jurisdiction over that order. On that basis, the section 263 order was quashed for want of jurisdiction, and the remaining grounds were treated as infructuous.
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