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2021 (8) TMI 951 - AT - Income TaxRevision u/s 263 - AO has stated that he had examined the cash flow statement for the relevant assessment year, income & expenditure statement, balance sheet, source of cash receipts, bank statements, particulars of agricultural income, agreement in respect to sale of agricultural produce, Dharma Kanta Bills, documents regarding purchase of immovable property during the relevant assessment year, cash book, bank book etc., and thereafter passed the assessment order - HELD THAT:- The assessee has also stated before the ld. PCIT that he had produced the Pattadar Pass Book and other relevant documentary evidence for earning agricultural income before the ld. AO - it is evident from the Order of the Ld. PCIT that he has produced the same before him also. Similarly, as regards the Chit Bid amounts received by the assessee, the assessee has produced the bank statements and other relevant documents before the Ld. PCIT and also claimed to have produced before the Ld. AO. With respect to loan received from HDFC bank also the assessee had produced the bank statement before the Ld. PCIT and also claimed to have produced the same before the Ld. AO. In this situation, the ld. PCIT without examining the documents furnished by the assessee setting aside the order of the Ld. AO and directing the Ld. AO to re-do the assessment de novo is not appreciable. It is apparent from the order of the Ld. PCIT itself that the assessee had produced all the requisite documents before him. From the order of the Ld. PCIT and Ld. AO it is apparent that the Ld. AO has not only examined the documents produced by the assessee but also made enquiries through his inspectors and thereafter came to the conclusion that the income declared by the assessee in his return of income is in order. We are of the view that the order of the Ld. PCIT is devoid of merits. Therefore, we hereby set aside the order of the Ld. PCIT and reinstate the order of the Ld. AO. Appeal of the assessee is allowed
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