Held that the order passed by the Assessing Officer under section 143(3) read with section 245D(4) of the Act could not be construed as an order passed by a subordinate authority in view of the fact that the Settlement Commission order has been passed by officers of the rank of the Chief Commissioner. Revision order was quashed. (AY.2001-02 to 2003-04)
Siemens Ltd. v. CIT (2022)99 ITR 50 (SN)(Mum) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Assessment order passed giving effect to order of Settlement Commission-Revision is not valid [S. 143(3), 245D(3), 245D(4)]