2002 (11) TMI 35

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....N J.-The only point that arises in the tax case is whether the Appellate Tribunal was right in holding that the Commissioner has jurisdiction to invoke the power under section 263 of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). In this case summary assessment order was made under section 143(1)(a) of the Act. The Commissioner exercised the power under section 263 of the Act. Bu....

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....ve already held that the Commissioner was advised not to invoke the powers of revision only in cases where there is a negligible tax effect. The Tribunal has proceeded only on the basis that the Commissioner has no jurisdiction to invoke the statutory powers under section 263 of the Act in cases of order of summary assessment made by the Income-tax Officer and we hold that the said view of the Tri....