Rejection of application by AO for lower or nil withholding is an ‘order’ eligible for revision by CIT

Court: Bombay High Court Citation: Larsen & Toubro Ltd. & Anr. Vs. ACIT [2010-TIOL-304-HC-MUM-IT] Brief   : The Bombay High Court held that expression “order” for the purposes of section 264 of the Income Tax Act, 1961 (the Act) has a wide connotation. The words used under section 264(1) of the Act are ‘any order other than order under section 263’. Hence, the rejection of an application by the Assessing Officer (AO) for lower withholding rate under section 197 (See Note-1 Below) of the act is an ‘order’ eligible for revision by the Commissioner of Income-tax (CIT) under...