High Court of Delhi

Mitsui & Co. Ltd.

v.

Commissioner of Income-tax

MADAN B. LOKUR AND DR. S. MURALIDHAR, JJ.

IT APPEAL NO. 145-146 OF 1987

October 23, 2007

Section 263, read with section 146 of the Income-tax Act, 1961 - Revision - Of orders prejudicial to interest of revenue - Assessment years 1978-79 and 1979-80 - Tribunal held that provisions of section 263 could be applied to an assessment order passed by inspecting Assistant Commissioner under section 146(3) in respect of assessment years in question - Delhi High Court in CIT v. Smt. Asha M. Primlani [ITR No. 532/1986, dated 6-9-2007] held that by virtue of amendment in section 263 by Taxation Laws (Amendment) Act, 1984 Commissioner could exercise powers under section 263 in respect of an order passed by IAC only with effect from 1-10-1984 - Whether Tribunal was justified - Held, no