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2015 (7) TMI 654 - ITAT LUCKNOW

2015 (7) TMI 654 - ITAT LUCKNOW - TMI - Revision u/s 263 by CIT(A) - Held that:- From the 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 the interest of Revenue. He has simply stated that the Assessing Officer has over looked certain facts/expenses/sources of income/transaction of income in bank account which should have been examin .....

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d:- 15-7-2015 - SHRI SUNIL KUMAR YADAV AND SHRI A.K. GARODIA, JJ. For The Appellant : Shri Yogesh Agarwal, Advocate For The Respondent : Dr. Anand Kumar Agarwal, C.I.T., D. R. ORDER PER A. K. GARODIA, A.M. This is assessee s appeal directed against the order passed by learned Principal Commissioner of Income Tax, Bareilly dated 19/03/2015 for the assessment year 2010-2011 u/s 263 of the Act. 2. The grounds raised by the assessee are as under: I. The Ld. Principal Commissioner of Income Tax, Bare .....

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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 all sources of income etc. and that neither is the order passed u/s 143(3) erroneous or prejudicial to the interests of the revenue to validly initiate proceedings u/s 263 of the I.T. Act, 1961 and thus the ord .....

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and thus the order being devoid of merit passed on notions, conjectures and surmises may kindly be ordered to be vacated. IV. That while passing the present order the Ld. CIT was not at all justified in holding that there is a difference in TDS as shown by the assessee and as per TDS certificate whereas there is no difference at all in the same and the figure is duly tallied and thus there is no excess as claimed by the Ld. CIT. V. While holding that an amount of ₹ 2,00,000/- has been pai .....

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ance in ICICI bank as on 31M March wherein according to him, the bank statement shows an amount of ₹ 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 ₹ 10,95,203/- and not ₹ 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 amoun .....

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n the previous assessment year and does not call for any addition. VIII. On the facts and in the peculiar circumstances of the present case the Ld. CIT was not at all justified in holding that AO has not examined all payable expenditure as Sundry Debtors are shown at an amount of ₹ 7,50,035/- whereas Expenses payable has been shown at an amount of ₹ 15,17,395/- as on 31-03-2010 and choosing to ignore the fact that the expenses payable also includes in it amount payable to labour, pro .....

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s under the head TDS, VAT, Securities, Royalties and 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 quashe .....

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and Irrigation Division but the ledger account of the assessee was only one i.e. Executive Engineer, Sharda Nagar, Lakhimpur Kheri and the receipt as per TDS certificate and as per books of account re tallying. Regarding second objection for payment of ₹ 2,00,000/- to Shri Rajeev Singh Thekedar for which it is the allegation that the TDS was required to be deducted u/s 194C of the Act, it was explained that this amount is paid in respect of supply of Mitti and Balu and therefore, no TDS w .....

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at this amount was received by the assessee on 30/03/2009 and it was deposited in bank on the same date for collection and it was accounted for in the books for the year ending on 31/03/2009 and only because the bank has credited the proceeds in the present year, it cannot be said that any receipt was unaccounted. 6. Regarding his next objection in respect of assessee showing sundry debtors of ₹ 7,50,035/- and showing payable expenditure of ₹ 15,17,395/- as on 31/03/2010 and the infe .....

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77,26,244/-, it was explained before learned CIT that from the total work done at ₹ 94,03,488/- after making various deductions on account of TDS, VAT, security, royalty and other expenses, net recoverable amount was ₹ 87,62,408/- from which there was outstanding debit of ₹ 13,871/- and therefore, net amount recoverable was ₹ 87,62,408/- and balance amount of ₹ 7,50,035/- was recoverable amount in balance sheet and therefore, there is no prejudice caused to the Reve .....

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tice issued by him u/s 263, learned CIT has mentioned in para 4 of his order that the assessee has filed written submissions along with the enclosures, which is placed on file and thereafter, he decided the issue as per para 5 of his order, which is reproduced below for the sake of ready reference:- 5. I have gone through the submissions of the assessee and the record of the case. I am of the considered view that the assessment order framed by the Income Tax Officer, Ward-II, Lakhimpur Kheri has .....

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