Mere Disagreement Doesn’t Justify invocation of Section 263 Revision Power: Madras HC

EIH Associated Hotels Limited Vs CIT (Madras High Court) Madras High Court held that issue relating to pre-closure premium was already considered and allowed by the assessing authority. Thus, invocation of revisionary power u/s. 263 for mere disagreement with the view of the assessing authority is unjustified in law. Facts- An order of assessment was passed on 30.11.2007 in respect of AY 05 – 06. The assessing authority notes in the scrutiny order that notices under Section 143(2), including on 09.10.2006, had been issued. The appellant had been represented at the time of assessment and all ...