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2022 (11) TMI 1432 - HC - Income TaxRevision u/s 263 - Tribunal setting aside an order passed by the Commissioner u/s 263 which is a second proceedings initiated under the said provision - addition u/s 68 - HELD THAT:- After the first order was passed u/s 263 of the Act, AO has conducted a de novo reassessment proceedings, issued summons to the directors and the shareholders as well as the assessee and examined the books of accounts, bank statement and the other documents produced by them to discharge the onus on them about the identity, creditworthiness and genuineness of the transaction and the assessing officer has recorded their statement during the reassessment proceedings where he has questioned an elucidated answer about all these factors. Tribunal has elaborately discussed the factual position and noted as to how the enquiry was conducted by the assessing officer after the first order was passed under Section 263. The learned Tribunal, after noting various decisions of the tribunal, also noted the decisions of this Court in the case of Dataware Pvt. Ltd. [2011 (9) TMI 175 - CALCUTTA HIGH COURT], Roseberry Mercantile (P) Ltd. [2011 (1) TMI 190 - CALCUTTA HIGH COURT], M/s. Nishan Indo Commerce Ltd. [2014 (3) TMI 895 - CALCUTTA HIGH COURT] and Leonard Commercial (P) Ltd. [2011 (6) TMI 955 - CALCUTTA HIGH COURT] In all those decisions, this Court considered the similar factual issue and decided in favour of the assessee - No substantial question of law.
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