No Fresh Claims Allowed in Consequential Assessment After Section 263 Revision

South Indian Bank Ltd. Vs DCIT (ITAT Cochin)

The Income Tax Appellate Tribunal (ITAT) of Cochin has delivered a judgment in the case of South Indian Bank Ltd. Vs. DCIT, affirming a long-standing principle that an Assessing Officer (AO), when issuing a consequential assessment order under Section 263 of the Income Tax Act, 1961, must not exceed the scope of the original revisionary order. The tribunal’s decision came after the South Indian Bank’s appeal against a consequential order that it deemed to have gone beyond the specific directions given by the P

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