https://www.taxtmi.com/caselaws?id=151848 The ITAT held that the Director of Income-tax (Exemption) had jurisdiction under section 263 to revise the authorization permitting remittance without tax deduction at source, as it was a quasi-judicial order. The Tribunal found the original order erroneous and prejudicial to the Revenue, particularly regarding the taxability of guarantee money. However, since the guarantee money had already been remitted, the matter was remanded for fresh consideration, directing the Director to reassess the submissions and documents. The appeal was allowed for statistical purposes, emphasizing the need for a thorough examination of the case's specifics. en-us Mon, 31 Jan 2005 00:00:00 +0530 Mon, 10 Jun 2024 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151848 The ITAT held that the Director of Income-tax (Exemption) had jurisdiction under section 263 to revise the authorization permitting remittance without tax deduction at source, as it was a quasi-judicial order. The Tribunal found the original order erroneous and prejudicial to the Revenue, particularly regarding the taxability of guarantee money. However, since the guarantee money had already been remitted, the matter was remanded for fresh consideration, directing the Director to reassess the submissions and documents. The appeal was allowed for statistical purposes, emphasizing the need for a thorough examination of the case's specifics. Case-Laws Income Tax Mon, 31 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151848