Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (5) TMI 950 - AT - Income TaxRevision u/s 263 by CIT - PCIT doubted the genuineness of purchases - Bogus parties - Matter restored back to AO for verification of purchase and suppliers (parties) - HELD THAT:- Assessment was complicated u/s 143(3) r.w.s. 147 - assessment was reopened u/s 148 r.w.s.151. The approval was granted by the ld. PCIT during issuance of notice u/s 148. During the proceeding u/s 263 the assessee submitted relevant documents in relation to show cause notice issued by the ld. PCIT. PCIT after receiving the submission from assessee just subsided the entire documents to the lower authority for further verification. Without proper verification of documents of the assessee, only to remand the matter to the ld. AO ‘for verification’ which is vitiated the order u/s 263. In the assessment order, the issue of purchase is dealt by the ld AO&is reflected in order of assessment. We fully relied on the order in the case of R.K. Metal Works (1976 (12) TMI 28 - PUNJAB AND HARYANA HIGH COURT] - In our considered view when the assessee filed a detailed written submission before him, the ld. PCIT did not deal with any of the points raised in the submission. Without verification of the documents only to remand the matter to the ld. AO for consideration of the points raised in the assessee's written statement. In our considered view the order U/s 263, passed by the ld. PCIT is setting aside and quashed. Assessee appeal allowed.
|