2002 (10) TMI 45

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....IMHA BABU J. -The question referred is, "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in cancelling the order of the Commissioner of Income-tax under section 263 without going into the question whether the Commissioner had validly exercised his powers under section 263 of the Income-tax Act, 1961 ?" The assessment year is 1985-86....

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....nal power is not to be lightly read into the statute. That there can be more than one remedy under the statute is by itself not a ground for denying one of the remedies provided under the statute for the benefit of the Revenue. Learned counsel for the assessee placed before us a copy of a circular issued by the Director of Inspection (Audit) dated August 26, 1987, which purports to offer clarif....

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....r and to convey the impression to the officers and the assessees that the Board has issued a directive even when the Board had not chosen to do so by exercising the powers under section 119 of the Act is not set out in that circular. The views of one Member of the Board conveyed to the Director of Inspection cannot be regarded as a decision taken by the Board in order to bind all Subordinate autho....