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2013 (7) TMI 61 - ITAT HYDERABADRevision u/s 263 - Validity of proceedings – non initiation of proceedings u/s 201(1A) - Held that:- On a perusal of the assessment order, it becomes absolutely clear that the Assessing Officer has not at all examined the various issues on the basis of which action u/s 263 was initiated – It is the primary duty of the Assessing Officer to cross check whether the credit amount appearing in the balance sheet of the assessee was genuine or not – Other issues on which the CIT has held the assessment order to be erroneous and prejudicial to the interests of revenue, have not at all been examined by the Assessing Officer – Initiation proceedings u/s 263 cannot be said to be invalid and without jurisdiction – Decided against the assessee. Non disclosure of sub contract payment – CIT order addition of amount on basis of balance sheet – Held that:- CIT was not correct in straight away directing the Assessing Officer to add the amount without affording an opportunity to the assessee to reconcile the figures by producing books of accounts and supporting evidences – Decided in favor of assessee. Initiating proceedings u/s 201(1A) – CIT directed the Assessing Officer to initiate proceedings u/s 201(1A) – Held that:- Assessee deducted tax but had defaulted in remitting the same into government account – Proceedings for assessment and proceedings for levy of interest u/s 201(1A) are distinct and separate proceedings – Assessment order passed u/s 143(3) cannot be held to be erroneous and prejudicial to the interest of revenue because of non initiation of proceedings u/s 201(1A) – CIT has no jurisdiction to direct the Assessing Officer to initiate proceedings u/s 201(1A) – Decided in favor of assessee.
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