Rashmi Metaliks Ltd. vs ACIT

Whether the Principal Commissioner of Income Tax (Pr. CIT) validly exercised revisionary powers under section 263 of the Income Tax Act, 1961, to set aside assessments for A.Y. 2009-10 to 2012-13 concerning the assessee's claim for deduction under section 80-IA(4) for private railway sidings, on grounds of erroneous and prejudicial orders passed under section 153A read with section 143(3) --- Held No. Whether incriminating material was found during the search under section 132 relating to the deduction claim under section 80-IA(4) for completed assessments (A.Y. 2009-10 to 2011-12) --- Held No. Whether the assessee's private railway sidings qualify as an infrastructure facility eligible for deduction under section 80-IA(4) --- Not decided on merits, as revisionary action was invalid.