2008 (1) TMI 551

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....ent of the court was delivered by 1. L. MANJUNATH JJ.— This appeal is by the Revenue challenging the passed by the Income-tax Appellate Tribunal, Bangalore Bench in No.7/Bang/2001 raising the following substantial questions of law: "1. Whether the Tribunal was correct in holding that the revisional authority cannot exercise its jurisdiction as the assessment order is not erroneous despite ....

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....liable to the Interest-tax Act." 2. We have heard the learned counsel for the parties. 3. During the course of arguments, the learned counsel appearing for both the parties submit that in the case of the assessee under the income-tax proceedings, the matter is pending before the Settlement Commission at Chennai and that any order that may be passed by the Settlement Commission would have a b....