COMMISSIONER OF INCOME-TAX Vs. VIKRANT CRIMPERS

JUDGEMENT

(1.) THE Income -tax Appellate Tribunal, Ahmedabad Bench 'B', has referred the following question under Section 256(1) of the Income -tax Act, 1961 ('the Act'), at the instance of the Commissioner of Income -tax: Whether, in the facts and circumstances of the case, the Tribunal was right in holding that the Commissioner of Income -tax, Surat, was not justified to pass the order under Section 263 of the Income -tax Act, 1961, in the case of the assessee relating to the assessment year 1986 -87

(2.) THE assessment year is 1986 -87.

(3.) THE facts stated briefly are that the Assessing Officer had made assessment under Section 143(1) of the Act on March 8, 1988. The Commissioner of Income -tax, being of the view that the said order was erroneous and prejudicial to the interests of the Revenue, initiated proceedings under Section 263 of the Act. Vide order dated March 26, 1990, the Commissioner of Income -tax held that the assessment order was erroneous and prejudicial to the interests of the Revenue, and, inter alia, directed the Assessing Officer to add the amount of sales tax benefit of Rs. 2,32,961 to the total income.