Saturday, March 26, 2016

An order already revised under sec. 264 couldn't be subsequently revised by invoking sec. 263

Where original assessment order had been revised under section 264 and, thus, no longer existed, order passed by CIT under section 263 revising original assessment order was void ab initio
Facts
a)    Assessee filed revision application under section 264 before the Commissioner of Income-tax (CIT) to revise the assessment order passed by Assessing Officer (AO) under section 143(3).
b)    CIT accepted the revisional application of assessee and directed AO to revise the assessment order accordingly.

c)    However, subsequently, the original assessment order of AO was revised by CIT under section 263.