2001 (6) TMI 16

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.... BABU J. -For the assessment year 1977-78, the Commissioner of Income-tax exercised revisional power under section 263 of the Income-tax Act, 1961, as in his opinion interests of the Revenue had been prejudiced by the order of the Income-tax Officer, allowing development rebate at the rate of amount of 25 per cent. of the investment. The Commissioner was of the view that such an allowance was at a....

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.... assessee had filed an appeal in which it had contended that the development rebate should have been allowed on the advertisement expenses in relation, to the machinery, the order of assessment should be regarded as having merged with the order under appeal thereby depriving the Commissioner of his revisional jurisdiction. The Tribunal has rejected those contentions of the assessee. The assesse....

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....e materials before him and thereafter grant development rebate to the extent the assessee was eligible under law. The Commissioner in the circumstances has acted properly and there is no illegality in the manner in which he has exercised his power, nor did he lack the jurisdiction to make the order he did. The merger which the assessee contends had taken place as between the order of the ass....