https://www.taxtmi.com/caselaws?id=448151 ITAT Chennai held that CIT cannot exercise revision powers u/s 263 when an appeal against the same assessment order is pending before CIT(A). The assessee had challenged the reassessment proceedings u/s 147 and 153C on grounds including lack of fresh material and improper sanction u/s 151. Since larger legal issues were already before the first appellate authority, Explanation-1 Clause (c) to Section 263 bars revision proceedings. The tribunal ruled that CIT(A) has co-terminus powers with AO and can address any deficiencies. The revision order was quashed and assessee's appeal was allowed. en-us Tue, 09 Jan 2024 00:00:00 +0530 Fri, 12 Jan 2024 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448151 ITAT Chennai held that CIT cannot exercise revision powers u/s 263 when an appeal against the same assessment order is pending before CIT(A). The assessee had challenged the reassessment proceedings u/s 147 and 153C on grounds including lack of fresh material and improper sanction u/s 151. Since larger legal issues were already before the first appellate authority, Explanation-1 Clause (c) to Section 263 bars revision proceedings. The tribunal ruled that CIT(A) has co-terminus powers with AO and can address any deficiencies. The revision order was quashed and assessee's appeal was allowed. Case-Laws Income Tax Tue, 09 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448151