Income Tax Appellate Tribunal - Madras
Kanakraj, K. B. vs Cit on 1 January, 1800
Equivalent citations: (1982)14TTJ(MAD)100
ORDER
--Issue not subject-matter of appeal. Ratio:
Appeal was agitated for computation of capital gain hence revisional powers exercised by Commissioner in respect of granting the exemption under section 54, was within his jurisdiction.
Held:
The question before the Appellate Assistant Commissioner was relating to the computation of capital gains and the question whether the assessee was entitled to exemption under section 54 could be raised before the Appellate Assistant Commissioner, Therefore, the assessment order of the Income Tax Officer did not survive in respect of the capital gains and the Commissioner (Appeal of Income Tax) had assumed the jurisdiction illegally.
Application:
Also to current assessment years.
Income Tax Act 1961 s.263