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2015 (1) TMI 691 - AT - Income TaxRevision u/s 263 - order erroneous and prejudicial to the interest of revenue - Held that:- CIT has passed the impugned order u/s 263 of the Act without considering the submissions made before him. All the issues raised by the CIT were raised by the Assessing Officer in his notice dated 22.02.2010 issued u/s 142(1) of the Act and in reply to the same, the assessee filed all details which were verified by the Assessing Officer and after being satisfied, he passed the order u/s 143(3) of the Act dated 19.04.2010. Therefore, the order of the CIT u/s 263 should be cancelled. Thus it shall be just and fair to set aside the order of the CIT and restore the matter back to his file for adjudicating the issue afresh after proper appreciation of the submissions of the assessee by passing a speaking order on each of the issue raised in the notice issued u/s 263 of the Act. - Decided in favour of assessee for statistical purposes.
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