Madras HC decision in Cairn India of exercise of Jurisdiction U/s. 263 by DIT

M/s. Cairn India Ltd. Vs. Director of Income Tax (Madras High Court) Question No. 1 : 13.1. Our answer to question No.1 is that, while, there was, clearly, a variance between what is stated in the SCN, and that, which was noted in the order of DIT, that by itself would not render the order passed under Section 263 of the 1961 Act illegal, as long as at the stage of hearing, the Assessee was given due opportunity to rebut the concerns and/or the material that the DIT had in his possession, based on which, he had reached the conclusion that the assessment order was erroneous and prejudicial to t...