It is not permissible for the executing authority to look beyond the order it is required to execute

Oriental Bank of Commerce Vs. DCIT (Delhi HC)- We have considered the rival contentions and gone through the record carefully. The order passed under Section 263 became final. Learned Commissioner while exercising the powers under Section 263 has decided the issue himself and directed the Assessing Officer to re-compute the income on the basis of his decision. He has not relegated the issue to the file of the Assessing Officer for re- adjudication.

He specifically held that capital loss on account of transfer

Please become a Premium member. If you are already a Premium member, login here to access the full content.