Income Tax Act, 1961

--Revision under section 263--Erroneous and prejudicial order CIT given specific finding that order both erroneous and prejudicial to the revenue--Where, Commissioner in exercise of the power under section 263, clearly held that the order passed by assessing officer was both erroneous and prejudicial to revenue as assessing officer did not make any endeavour to ascertain, whether revenue received by assessee was for and in respect of services rendered by assessee or the same was received only by way of sale price of goods/materials sold by assessee, may be outside India. Therefore, failure on the part of assessing officer to ascertain whether revenue would come under section 44BB, there was no illegality in the order of commissioner passed under section 263.

Income Tax Act, 1961 Section 263

In the Uttarakhand High Court

Barin Ghosh, C.j. & U. C. Dhyani, J.

M-I Overseas Ltd. v. DIT

IT Appeal No. 25 of 2012

3 October, 2012

Appellant by : Nageswar Rao, Sandeep S. Karhail & Chetan Joshi

Respondent by : Hari Mohan Bhatia