Revenue cannot jurisdiction u/s 263 on issues considered and decided by CIT (Appeals)

Once an issue was considered and decided by CIT (Appeals), remedy of Revenue cannot lie in invocation of jurisdiction u/s 263. HIGH COURT OF BOMBAY Ranka Jewellers Vs. Addl. CIT ITA No. 1311 of 2009 DECIDED ON: March 26, 2010 RELEVANT PARAGRAPH 14. We must, at this stage, observe that in these proceedings we are not concerned with the merits or correctness of the determination that has been made by the CIT(A) in the order dated 22nd May 2006. The scope of the present proceedings is confined to the validity of the recourse to the powers under Section 263. During the course of...