https://www.taxtmi.com/caselaws?id=11855 The High Court of MADRAS addressed discrepancies in questions of law referred by the Income-tax Appellate Tribunal for the assessment year 1988-89. The court upheld the Tribunal's decision to cancel the Commissioner's orders under section 263, emphasizing that the directive to treat construction costs as undisclosed income lacked legal basis. It clarified that the Commissioner's revisional power extends to summary assessment orders under section 143(1)(a) of the Income-tax Act, rejecting the argument that such orders are exempt from revision. The court remitted the issue of income classification from the building back to the Tribunal for further examination. en-us Wed, 06 Nov 2002 00:00:00 +0530 Wed, 10 Feb 2010 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11855 The High Court of MADRAS addressed discrepancies in questions of law referred by the Income-tax Appellate Tribunal for the assessment year 1988-89. The court upheld the Tribunal's decision to cancel the Commissioner's orders under section 263, emphasizing that the directive to treat construction costs as undisclosed income lacked legal basis. It clarified that the Commissioner's revisional power extends to summary assessment orders under section 143(1)(a) of the Income-tax Act, rejecting the argument that such orders are exempt from revision. The court remitted the issue of income classification from the building back to the Tribunal for further examination. Case-Laws Income Tax Wed, 06 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11855