TMI Blog2013 (12) TMI 1162X X X X Extracts X X X X X X X X Extracts X X X X ..... 24.10.2005 as well as limit prescribed under Section 268-A of the Income Tax Act, the Department is not expected to file the appeals - Decided against Revenue. - Income Tax Appeal Defective No. - 92 of 2001, Income Tax Appeal Defective No. - 94 of 2001, Income Tax Appeal No. - 103 of 2007, Income Tax Appeal No. - 123 of 2007 - - - Dated:- 13-12-2013 - Hon'ble Dr. Satish Chandra And Hon'ble B. Amit Sthalekar,JJ. For the Appellant : Prakash Krishna,A. Kumar,A. N. Mahajan,B. J. Agarwal,D. Awasthi,G. Krishna,R.K. Upadhyay,S.Chopra For the Respondent : Ashish Agrawal ORDER The present appeals have been filed by the Department under Section 260A of the Income Tax Act, 1961 against the consolidated judgment and order dated 16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we have heard Sri Shambhu Chopra, learned standing counsel for the Department. None appeared on behalf of the assessee. From the record, it appears that the Tribunal in Para 15.1 has observed that for a re-assessment or assessment under Section 147 to be valid the following mandatory pre-requisite conditions must be satisfied: "(I) In a case where assessment has been framed u/s 143(3), the A.O. must have reason to believe that the escapement of income from the assessment has been due to failure on the part of the assessee to disclose all material facts necessary for his assessment fully truly and the proceedings u/s. 147 can be initiated only within a period of four years. (II) In any other case, the A.O. must have reason to believ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid down in the following cases: (i) CTT vs. Suraj Dal Mill, 2005 (37) STJ 547 Alld; (ii) CTT vs. Durga Dal Mill, 2006 (3) VLJ 152 Alld.; (iii) Kamla Ganpati vs. Collector of Estate Duty, 253 ITR 692 SC; and (iv) Anjani Coal Agency vs. CTT, 2005 (37) STJ 294 All. When it is so, then we find no reason to interfere with the impugned order passed by the Tribunal. Further, it may be mentioned that the tax effect in each appeal is less than prescribed limit. Hence, covered by Board's Circular dated 24.10.2005 as well as under Section 268-A of the Income Tax Act, the Department is not expected to file the appeals. In view of above, the answer to the substantial question of law is in favour of the assessee and against the revenue. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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