2021 (8) TMI 975

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....cate for the Respondent : SC, Income Tax ORDER Heard Dr. A Saraf, learned senior counsel for the petitioner. Also heard Mr. S Sarma, learned standing counsel for the Income Tax Department. 2. An order under Section 263 of the Income Tax Act 1961 (for short, the IT Act) dated 31.03.2021 is assailed in this writ petition on the ground that the condition precedent of initiating a proceeding ....

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.... senior counsel a basic reading of the provisions of Section 263(1) of the IT Act goes to show that in order to invoke the jurisdiction under Section 263 of the IT Act, the condition precedent is that the Principal Commissioner or the Commissioner may arrive at a satisfaction that any order passed by the Assessing Officer to be erroneous and to be prejudicial to the interest of revenue. 5. Dr. ....

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....jurisdiction under Section 263 of the IT Act. By referring to the order impugned dated 31.03.2021 passed by the Principal Commissioner Income Tax Guwahati-1 in clause 4.0, it is submitted that the Principal Commissioner of Income Tax while arriving at his conclusion on examination of the matter could not confirm accurately whether the assessee had not claimed the deduction in the earlier assessmen....