1994 (11) TMI 15

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....n for our opinion under section 256(1) of the Income-tax Act, 1961 : (1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the order under section 263 was a proper and valid order and that the jurisdiction under section 263 has been validly invoked ? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was right ....

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....ection 215 of the Income-tax Act. The Commissioner invoking the provisions of section 263 of the Act came to the conclusion that the order passed by the Income-tax Officer is erroneous and prejudicial to the interests of the Revenue. Accordingly, the Commissioner directed the Income-tax Officer to consider the applicability of the provisions of section 215 after hearing the assessee and after taki....

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....ird question is concerned, the Tribunal came to the conclusion that the Income-tax Officer has not considered the question of charging interest under section 215 of the Income-tax Act and, therefore, the order passed by the Income-tax Officer was erroneous and prejudicial to the interests of the Revenue. Accordingly, the Tribunal held that the Commissioner has jurisdiction to interfere with the or....