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TMI Blog2015 (7) TMI 654X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT] erred on facts and in law in passing the present order u/s 263 and in stating that the order of the assessing officer is erroneous and prejudicial to the interests of the revenue without any cogent reason only on whims and fancies and thus the present order passed in violation of settled principles of law may kindly be ordered to be quashed. NOTWITHSTANDING AND WITHOUT PREJUDICE TO GROUND NO. I TAKEN ABOVE :- II. The Ld. CIT grossly erred on facts and in law in holding that the AO has overlooked certain facts/ expenses/ sources of income/ transaction of income in bank accounts of assessee during the completion of assessment proceedings and which are contrary to the revenue and in not appreciating ' that the AO had duly verified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the provisions of sec. 194C and thus this payment is duly allowable and no disallowance as it is can be made under this head. VI. That as per the order of the Ld. CIT there is an alleged difference in closing balance in ICICI bank as on 31M March wherein according to him, the bank statement shows an amount of Rs. 7,08,191/- whereas in fact the balance so reflected in the bank statement as well the certificate issued by the bank and also duly filed before the Ld. CIT clearly shows the balance as Rs. 10,95,203/- and not Rs. 7,08,191/- as alleged by the Ld. CIT and thus the order being biased, passed on irrelevant considerations may kindly be ordered to be quashed. VII. In holding that an amount received of Rs. 1,28,190/- is income which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other Misc. expenses deducted by the principals and thus even on this count the Ld. CIT does not have any ground to invoke the provisions of sec. 263. X. That, the Ld. A.O. did not afford the appellant any proper or sufficient opportunity to have its say or make necessary compliance of the reasons relied upon by him in making the additions and thus the assessment so made without affording adequate opportunity may kindly be ordered to be quashed." 3. It was submitted by Learned A.R. of the assessee that the show cause notice issued by learned CIT u/s 263 is available on pages 6 to 8 of the paper book and the original assessment order is available on pages 1 to 3 of the paper book. He also drawn our attention to reply submitted before lear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. 6. Regarding his next objection in respect of assessee showing sundry debtors of Rs. 7,50,035/- and showing payable expenditure of Rs. 15,17,395/- as on 31/03/2010 and the inference of learned CIT that the Assessing Officer has not examined the payable expenses, it was submitted by the assessee before learned CIT that the Assessing Officer has examined all the books of account in detail in course of assessment proceedings and therefore, there is no error in the assessment order. 7. Regarding the next objection of learned CIT that the Assessing Officer has not examined and reconciled the receipts reflected in bank account being credits in three bank account of Rs. 77,26,244/-, it was explained before learned CIT that from the total work ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount which should have been examined properly. The assessment order passed by the Income Tax Officer, Ward- II, Lakhimnur Kheri is erroneous in law and prejudicial to the interest of revenue as per the issues / facts narrated above and therefore, the assessment is set-aside under section 263 of the I.T.Act,1961. The Income Tax Officer, Ward-II, Lakhimpur Kheri is hereby directed to make assessment afresh looking into the issues and facts as above after giving proper opportunities to the assessee of being heard." 9.1 From the above para from the order of learned CIT u/s 263 of the Act, it is seen that no categorical finding is given by learned CIT as to what is the error in the assessment order and how the assessment order is prejudicial to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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