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TMI Blog2018 (1) TMI 1068X X X X Extracts X X X X X X X X Extracts X X X X ..... der made by the learned Commissioner of Income Tax, Central-I, New Delhi dated 25.3.2014 holding that order of assessment dated 29.12.2011 is erroneous in so far as it is prejudicial to interest of revenue is without jurisdiction and deserves to be quashed as such. 2. That the learned Commissioner of Income Tax has failed to appreciate that once the addition made on the basis of diary marked as Annexure A- 1 seized from Shri Salek Chand Garg had been made subject matter of appeal before learned Commissioner of Income Tax (Appeals), the entire issue was subject matter of appeal before the learned Commissioner of Income Tax (Appeals) and as such the impugned order is beyond the scope of powers of learned Commissioner of Income Tax in view ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ability of the amount of Rs. 11,57,03,488/- in the hands of the assessee on account of unaccounted sales made" is based on factually misconception and, misinterpreted of provision of law and is thus untenable. 3.3. That further the learned Commissioner of Income Tax has also failed to appreciate that, u/ s 263 of the Act, an order of assessment cannot be set-aside to simply to make further enquiries and thereafter pass fresh order of assessment and as such, impugned order is contrary to law and hence, unsustainable. 3.4. That various adverse findings and observations recorded in order u/s 263 of the Act without granting opportunity are not only contrary to facts but also law and therefore, unsustainable. It is therefore prayed that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.2014, directed the Assessing Officer to consider the entire undisclosed sales as undisclosed income of the assessee, instead of restricting the profit to 10% of the undisclosed sales. However, the CIT(A), Central-1, New Delhi accepted the assessee's contentions that part of sum of the amount of undisclosed sales determined by the assessee was attributable to excise duty, VAT, freight and labour and directed that the total undisclosed sale was to be quantified at Rs. 1 1,57,03,488/-. The Assessing Officer vide his order u/s 143(3) r.w.s. 263 of the Income Tax Act, 1961 dated 20/03/2015 gave effect to the revision order of the CIT(A) Central-1, New Delhi. 4. The Ld. AR submitted that order under Section 263 of the Act was passed on the bas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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