COMMISSIONER OF INCOME TAX Vs. PANNA KNITTING INDUSTRIES

JUDGEMENT

(1.) THESE two reference cases are being decided by this common order as the same were decided by the Tribunal by a common order.

(2.) THE following common question of law in the two reference cases has been referred for our opinion :

(3.) BEING aggrieved by the order of the Commissioner of Income -tax, the assessee went in appeal before the Tribunal. There was a difference of opinion between the two members of the Tribunal and the matter was referred to the Third Member on the question of maintainability of revisional proceedings for withdrawing the weighted deduction in respect of the items mentioned above. By a majority opinion, the Tribunal came to the conclusion that the Commissioner of Income -tax had no jurisdiction to exercise revisional powers under Section 263 of the Act as the order of the Assessing Officer had merged in the appellate order.