TMI Blog2000 (1) TMI 154X X X X Extracts X X X X X X X X Extracts X X X X ..... s stated by the learned counsel for the assessee that CIT, Gwalior, has set aside the assessment under s. 263 on the ground that the AO did not make proper enquiry with regard to the difference in stock found as a result of survey and the investment with regard to construction of godown. He stated that on both these grounds, the AO examined the facts of the case and he being satisfied with the exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome and the AO accepted the assessee's return without making proper verification. Therefore, the CIT was fully justified in setting aside the assessment and directing the AO to make the assessment de novo after making the proper enquiries on these two points. He stated that the order of the CIT should be sustained. 4. I have carefully considered the arguments of both the sides and have perused ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urvey in stock was because of receipt of certain goods, which were taken from the transporter, but which were remained to be entered in the regular books. Thus, there was no difference in the stock. It was also explained that the godown was constructed by Shri Mukesh Kumar and not by the assessee-firm. Therefore, the investment in the godown has to be considered in the case of Mukesh Kumar. Thus, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In view of these findings, the Tribunal in our opinion, was justified in law in reversing the order passed by the CIT." 5. The facts of the case under appeal are identical to the facts in the case of Ratlam Coal Ash Co. above. Therefore, respectfully following the decision of Hon'ble jurisdictional High Court, I hold that the AO made the assessment after considering all the facts and, therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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