2000 (11) TMI 49

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....ASHOK BHAN J.--The Revenue, being aggrieved by the order passed by the Income-tax Appellate Tribunal, Bangalore (for short, "the Tribunal"), in I. T. A. No. 950/Bang of 1992, for the assessment year 1988-89, has filed this appeal under section 260A of the Income-tax Act, 1961 (for short, "the Act"). The respondent-assessee filed its return of income for the year 1988-89. An order of assessment ....

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....nd that the order of the assessing authority having merged with the order of the Commissioner of Income-tax (Appeals), the Commissioner of Income-tax, being of co-ordinate jurisdiction, did not have the jurisdiction to revise the order of the assessing authority. The Commissioner of Income-tax did not accept this contention and revised the assessment order. The assessee, being aggrieved by the ....

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....puting the capital gains, the Assessing Officer had taken the value at Rs. 80 lakhs against the value of Rs. 96.79 lakhs shown by the assessee. He further noted that the Assessing Officer had determined the increase in the value of land from 1958 along with various documentary evidences and to the date of sale and on that basis, he had computed the value as on April 1, 1974, on a proportionate bas....

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.... of the case, the Tribunal is correct in law in holding that there is merger of the assessment of the appellate order and, therefore, there is a bar for the Commissioner to invoke the revisional proceedings under section 263 of the Income-tax Act, 1961, in the respondent-assessee's case for the assessment year 1988-89?" Admit. The questions being interlinked and interrelated with each other,....