2022 (9) TMI 1512

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.... Mr. Tilak Mitra, Adv. ... for the appellant Mr. J.P. Khaitan, Sr. Adv. ...for the respondent ORDER The Court :- This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order dated 22nd October 2020 passed in ITA No. 427/Kol/2018 for the assessment year 2012-13. The revenue has raised the following substantial questions of law for....

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....Malabar Industrial Co. Ltd. Vs. CIT [243 ITR 83] ? We have heard Mr. Tilak Mitra, learned standing Counsel for the appellant and Mr.J. P. Khaitan, learned Senior Advocate for the respondent. The short issue involved in the instant appeal is whether the Commissioner of Income Tax was justifying in assuming jurisdiction under Section 263 of the Act. We have elaborately heard the submissions of....

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....A of the Act. That apart the learned Tribunal has also taken note of various decisions of the Hon'ble Supreme Court which had laid down the legal principle as to what and under what circumstances the Commissioner of Income Tax can exercise power under Section 263 of the Act. The revenue has not disputed before us that no disallowance was made in the previous two assessment years as well as the ....