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Tata Sons wins appeal against IT dept for assessing Rs 759 crore as income

The ITAT has quashed an order passed by additional CIT for AY 2003-04 assessing a higher income Rs 759 crore in the hands of Tata Sons due to invalid jurisdiction. Tata Sons claimed that the additional CIT did not have the valid authority to pass the order under section 120(4)(b). The additional CIT can exercise the powers of an assessing office only if he is specifically directed by higher authorities. Further, section 127(1) provides that a proper written order transferring the case needs to be passed by the commissioner, after recording the reasons for doing so. 

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