CIT's Section 263 Revision Cancels Assessment Orders; No Further Proceedings Allowed; Contested Orders Deemed Unsustainable.

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....Revision u/s 263 by CIT - - in the present appeals, the assessment orders have already been cancelled – meaning thereby it has extinguished, and therefore, no subsequent further proceedings can be initiated - Commissioner has committed an error by holding that “since the Revenue wants to keep the issue alive, it is necessary to pass such order”. Therefore, in view of the above discussions, the impugned orders are not sustainable in these assessment years. - AT....