2020 (1) TMI 328

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....d notice issued under Section 263 of the Income Tax Act. The invocation of the aforesaid provision of the Income Tax act, is pursuant to an internal order sheet dated 21.03.2002 of the concerned officer which reads as follows:- "Since both the points mentioned above have been duly considered in the assessment for the assessment year 1995-1996 the proceedings for this year are closed as NA." 3. It is the contention of the petitioner that the assessments were completed for the assessment year 1996-1997 on 23.04.1998 in the hands of the petitioner. Thereafter, a notice under Section 148 of the Income Tax Act, 1961 was issued to the petitioner on 19.12.2000. He submits that the decision to drop the aforesaid proceeding vide an inter....

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....under the provisions of the Income Tax Act, 1961 was also no longer res integra in the light of the decision of the division bench of this court in Cadd Centre Versus ACIT (2016) 383 ITR 258 (Mad). 6.The learned counsel for the petitioner also relied on the following decisions to state that invocation of section 263 of the Income Tax Act, 1961 was without jurisdiction:- i) Malabar Industrial Co., Ltd., vs. C.I.T (2000) 243 ITR 83 (SC)   ii) C.I.T. vs. Max India Ltd., (2007) 295 ITR 282 (SC) iii) C.I.T. vs. Mepco Industries Ltd., (2007) 294 ITR 121 (Mad) iv) C.I.T. vs. K.G. Denim Ltd., 180 Taxman 590 (Mad) v) CIT vs. SAK Soft Ltd., (2008) 290 ITR 63 (Mad) vi) PCIT vs. Abhijit Bhan....