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2017 (8) TMI 1359 - AT - Income TaxRevision u/s 263 - whether direction of the Ld.CIT is beyond the scope of the provision of section 153A - Held that:- Whereas, the opening capital balance was taken at ₹ 13,952/- as on 01.04.2005 and there was a difference and hence, the Ld. CIT has directed the assessing officer to reexamine the issue and make the enquiries and complete the assessment. During the appeal, AR referred the paper book page No.30 which is the closing balance as on 31.03.2005. As per the balance sheet, the capital balance as on 31.03.2005 was ₹ 7,76,810/-. The assessee also enclosed the account copy of the assessee in respect of the capital account which shows the opening balance of ₹ 776810/- as on 01.04,2005 and there was no difference. Therefore, the Ld.AR submitted that the Ld.CIT has committed an error while examing the capital accounts. DR did not controvert the above facts furnished by the Ld.AR and we do not find any difference as observed by the Ld.CIT in his order passed u/s 263. Accordingly, we set aside the order of the Ld.CIT and allow the appeal of the assessee. Revision u/s 263 in respect of expenditure under the head repairs and maintenance - Held that:- It is not permissible to revise the assessment order in the case of search assessments without referring to the incriminating material in the case of completed assessments. In the instant case the assessments were unabated and there is no incrimainating material. Hence we set aside the orders of the Ld.CIT and allow the appeal of the assessee for the A.Y.2006-07 and 2007-08. Admission of additional income during the post search investigation which was not declared in the return of income filed subsequent to search - CIT set aside the assessment order passed by the AO u/s 143(3) r.w.s. 153A with a direction to reexamine the issue - Held that:- As per the statement recorded u/s 131 on 19.03.2010 the assessee has admitted the total income of ₹ 35 lakhs for the assessment year 2010-11 but no admission was given for additional income and accordingly filed the Return of Income. No other incriminating material was placed before us by the Ld.DR evidencing any other additional income. Therefore, there is no error which is prejudicial to the interest of the revenue for taking up the case for revision u/s 263, and accordingly, we set aside the order passed u/s 263 and allow the appeal of the assessee.
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