https://www.taxtmi.com/caselaws?id=11994 The High Court of Madras ruled in favor of the Revenue, upholding the Commissioner's power to revise assessments under section 263 of the Income-tax Act. The Court clarified that the Commissioner's powers were not restricted by section 143(1) and emphasized that denying a remedy provided by the statute for the Revenue's benefit was unjustified. Additionally, the Court determined that a circular issued by the Director of Inspection did not hold the same weight as an official directive from the Board under section 119, rejecting the assessee's arguments and affirming the Commissioner's authority to revise assessments. en-us Mon, 07 Oct 2002 00:00:00 +0530 Sun, 14 Feb 2010 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11994 The High Court of Madras ruled in favor of the Revenue, upholding the Commissioner's power to revise assessments under section 263 of the Income-tax Act. The Court clarified that the Commissioner's powers were not restricted by section 143(1) and emphasized that denying a remedy provided by the statute for the Revenue's benefit was unjustified. Additionally, the Court determined that a circular issued by the Director of Inspection did not hold the same weight as an official directive from the Board under section 119, rejecting the assessee's arguments and affirming the Commissioner's authority to revise assessments. Case-Laws Income Tax Mon, 07 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11994