Supreme Court (SC) Ruling – Section 263 of the
Income-tax Act, 1961 (the Act) does not require issue of show cause
notice unlike Section 147 of the Act.
Commissioner of Income-tax vs. Amitabh Bachchan [Civil
Appeal No. 5009 & 5010 of 2016]
Facts of the case:
The assessment for the assessment year 2001-02 was finalized on
30th March 2004. The assessment in question was set aside by the
learned Commissioner of Income-tax (CIT) by the order dated 20th
March, 2006 on the principal ground that requisite and due
enquiries were not made by the Assessing Officer (AO) prior to the
finalization of the assessment by order dated 30th March, 2004.
Aggrieved by the said order, assessee filed an appeal before the
Income-tax Appellant Tribunal (ITAT) and the same was allowed by
the ITAT.
