Hello everyboy,
Can anyone provide me a case law or circular or notification for two things or issues under section 263:
1) that appeal can be directly filed by the assessee to Income Tax Appelate Tribunal once an order enhancing or modifying or seting aside or cancelling the assessment is passed by the Commisioner of income Tax u/s 263 is received by the asessee without waiting for the Assesing officer to pass the order to give effect to the directions issued by CIT u/s 263 order and then file an appeal to CIT (appeals) after receiving the order of Assesing officer to give effect to order passed by CIT u/s 263
2) What do you mean by the term erroneous and prejudicial to the interests of the revenue u/s 263 and any case law or notification or circular which subtantiates that the assessee can contest in the income tax appelate tribunal on the grounds that order passed under section 263 itself is not sustainable and wrongly passed by CIT u/s 263
Please provide case laws for the same it is urgent
CAclubindia
