Amended and updated notes on section 260 of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to Decision of High Court or Supreme Court on the case stated.
Chapter XX (Sections 246 to 269) of the Income Tax Act 1961 deals with the provisions related to appeals and revision . Section 260 of IT Act 1961 provides for Decision of High Court or Supreme Court on the case stated.
Recently, we have discussed in detail section 259 (Case before High Court to be heard by not less than two judges) of IT Act 1961. Today, we learn the provisions of section 260 of Income-tax Act 1961. The amended provision of section 260 is effective for financial year 2022-23 relevant to the assessment year 2023-24.
In this article, you will learn detail of the provisions of section 260 of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962 as provided by Ministry of Law and Justice, Government of India.
Section-260: Decision of High Court or Supreme Court on the case stated
Section 260(1) of Income Tax Act
The High Court or the Supreme Court upon hearing any such case shall decide the questions of law raised therein, and shall deliver its judgment thereon containing the grounds on which such decision is founded, and a copy of the judgment shall be sent under the seal of the Court and the signature of the Registrar to the Appellate Tribunal which shall pass such orders as are necessary to dispose of the case conformably to such judgment.
Section 260(1A) of Income Tax Act
Where the High Court delivers a judgment in an appeal filed before it under section 260A, effect shall be given to the order passed on the appeal by the Assessing Officer on the basis of a certified copy of the judgment.
Section 260(2) of Income Tax Act
The costs of any reference to the High Court or the Supreme Court which shall not include the fee for making the reference shall be in the discretion of the Court.