1998 (1) TMI 29

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ALASUBRAMANIAN J.--Mr. K. Mani, learned counsel undertakes to file vakalat for the respondent. At the instance of the Department, the following two questions of law have been referred for our consideration under section 256(1) of the Income-tax Act, 1961 : "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the Commissioner of Inco....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....vision conferred on him under section 263 of the Income-tax Act, to revise an order of assessment, when the order of assessment was the subject-matter of appeal before the Appellate Assistant Commissioner and the Income-tax Appellate Tribunal in respect of matters not contested before them. The Appellate Tribunal has clearly recorded a finding that the question of allowance of interest, which was ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....983), wherein the Supreme Court held that the effect of the amendment made in section 263(1) of the Act by the Finance Act, 1989, whereby clause (c) of the Explanation was also inserted with retrospective effect from June 1, 1988, was that the said amendment was made with retrospective effect and that the powers under section 263 of the Act shall extend and shall be deemed always to extend to such....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t Commissioner or before the Income-tax Appellate Tribunal. Following the said decision of the Supreme Court in CIT v. Shri Arbuda Mills Ltd. [1988] 231 ITR 50-T.C. No. 11 of 1983, we are of the view that the first question of law referred is liable to be answered in favour of the Department. In so far as the second question of law is concerned, the point that arises is whether the Commissioner....