9911796707
TMI Blog2012 (8) TMI 429X X X X Extracts X X X X X X X X Extracts X X X X ..... Krishna,R.K. Upadhyay,S.Chopra 1. We have heard Sri R.K. Upadhyay, learned counsel for the appellants and Sri R.R. Agrawal, learned counsel appears for the respondent-assessee. 2. The revenue is aggrieved by the order of the Income Tax Appellate Tribunal dated 12.1.2000, which was set-aside the order of Commissioner Income Tax (A), remanding the matter to the Assessing Officer und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ently explained the surrender of the income which he has subsequently retracted. 5. After assessments were completed, a raid was carried out, at the Nursing Home of the respondent-assessee on 7.12.2004. Some incriminating documents of concealment of income, were discovered. The assessee was not present at the time of inspection. He appeared before the AO on 12.12.1994 and surrendered the proposed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment and thus the vary basis for passing the impugned order goes away. The CIT also failed to point out as to why the AO failed to work out the amount of concealed income correctly, rather the AO had made the additions on estimate basis for all the assessment years though there was no seized material indicating suppression of receipts for these assessment years and for a.y. 1995-96 the material f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sri R.K. Upadhyay had relied upon Malabar Industrial Co. Ltd. Vs. Commissioner of Income Tax, (2000) 243 ITR 83 and Commissioner of Income Tax Vs. Kwality Twxtile Associate Pvt. Ltd., (2005) 272 ITR 371. In these cases the Supreme Court and the Madras High Court have discussed the powers of CIT under Section 263 of the Act, to remand the matter. If the twin conditions namely that the order of AO s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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