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2012 (9) TMI 694 - AT - Income TaxInvoking jurisdiction u/s.263 by CIT(A)- disallow business expenses claimed against undisclosed income - order passed after scrutiny u/s.143(3) is erroneous - Held that:- The survey disclosure has been considered by the A.O. considering unpaid freight and liability and no addition was made on account of outstanding liability from unaccounted income u/s 69C whereas the CIT has passed the order u/s 263 on the basis of liability of Rs.1,03,24,530/- has been shown as unpaid freight as on 31.03.2006 and liability paid Rs.77,01,958/- during the F.Y. 05-06, which has been considered by the A.O. Thus the CIT has framed different opinion on similar facts considered by the A.O. in assessment order. Therefore, the CIT order u/s 263 is a change of opinion - set aside the order of CIT - in favour of assessee.
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