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2016 (5) TMI 213 - AT - Income TaxRevision u/s 263 - whether revision was under influence of auditors’ objection? - Held that:- If the ld.Commissioner initiated the proceedings under influence of audit objection and took such objection as gospel truth, then, probably, the ld.counsel for the assessee may be justified to raise this plea that on the basis of auditors’ objection proceeding under section 263 ought not to be initiated, but in case where, the role of auditors’ objection is only assumption of a information, which has been evaluated by the ld.Commissioner, and after such evaluation, he was satisfied to initiate the action under section 263 of the Act, then, law does not prohibit the ld.Commissioner to initiate proceeding. His opinion ought not to be influenced by any objection. The role of objection is only as a source of information to decide whether any action under section 263 requires to be taken or not. In the present case, ld.counsel for the assessee failed to demonstrate as to how the notice under section 263 was under the influence of auditors’ objection. The ld.Commissioner has recorded his individual satisfaction before taking action against the assessee. Therefore, we do not find any error in the order of the ld.Commissioner. - Decided against assessee
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