- (1.) The question which had been referred to the High Court under Section 256(1) of the Income-tax Act, 1961, read as follows : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the Commissioner of Income-tax had no jurisdiction under Section 263 to revise an order passed by the Income-tax Officer with the approval of the Inspecting Assistant Commissioner under Section 144B"
(2.) The power to revise orders of the Income-tax Officer under Section 263 of the Income-tax Act, 1961, was sought to be limited by the appellant-assessee by contending that the phrase "order passed by the Income-tax Officer" in Section 263 excluded those orders passed by the Income-tax Officer pursuant to the directions of the Inspecting Assistant Commissioner under Section 144B which was then included in the Act.
(3.) The High Court in its decision has followed its earlier decision in which it had referred to and relied upon the reasoning of several other High Courts on the same issue to negative the contentions of the assessee.;