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2019 (5) TMI 1546 - ITAT RAIPURRevision u/s 263 - CIT was of the opinion that the order passed by the AO without conducting any enquiry and just taking documents of the assessee and therefore, the order of the Assessing Officer is erroneous so as to prejudicial to the interest of the Revenue - HELD THAT:- On the same issue i.e. with regard to M/s. L.B. India Holding Mauritius-II Limited and its transactions, specific documentary evidences and details have been filed by the assessee before AO along with detailed written submissions. This was done by the assessee since the AO had specifically enquired from the assessee regarding transactions from the company. This is evident from the various documents placed before us and annexed in the paper book. AO had conducted enquiry and after various rounds of hearing and deliberation with the assessee and scrutinizing the documents filed before him as well as submissions of the assessee, the Assessing Officer had passed an order. Such assessment order is neither erroneous nor prejudicial to the interest of the Revenue. The facts demonstrate that necessary enquiry have been conducted by the Assessing Officer and relevant documents regarding the issue was received by the Assessing Officer still the Ld. CIT may be of the opinion that it is erroneous but in no way it can be prejudicial to the interest of the Revenue since there is always a difference between any enquiry conducted or no enquiry conducted. Therefore, section 263 gets triggered only when the order is erroneous and also prejudicial to the interest of the Revenue. On the basis of binding principles as laid down by the Hon'ble Supreme Court of India in CIT Tax Vs. Max India Ltd [2007 (11) TMI 12 - SUPREME COURT] and MALABAR INDUSTRIAL CO. LTD. VERSUS CIT [2000 (2) TMI 10 - SUPREME COURT] , we set aside the order of the Ld. Pr. CIT passed u/s.263 and allow the appeal of the assessee.
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