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2013 (11) TMI 1451 - AT - Income TaxValidity of assessment u/s 263 – Held that:- The Assessing Officer did not make proper enquiry which was expected from him considering the facts of the case - He has simply examined the cash deposit in the books of account without examining any aspect of manufacturing and trading account - The order of the learned CIT is upheld to the extent that the assessment order passed by AO is erroneous and prejudicial to the interest of the Revenue. Suppression of sales – Held that:- The CIT did not properly consider the assessee's written submission - No defects have been pointed out by the CIT in the regular books of account maintained by the assessee - Unless the defect is pointed out and books of account are rejected, there is no question of estimation of any production and sales – The issue is restored for fresh decision.
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