2002 (7) TMI 48

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..... llowing question is referred for our opinion in respect of the assessment year 1983-84: "Whether the Tribunal is right in law in setting aside the order made by the Commissioner of Income-tax under section 263 of the Income-tax Act, 1961?" We have heard Mr. Tanvish Bhatt, learned standing counsel for the Revenue. Though served, none appears for the respondent-assessee. The assessee is an indivi .....

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..... Bharatkumar Ishwarlal, brother-in-law of the assessee, on March 19, 1983. It was after the said search that the assessee had filed her return of wealth on September 29, 1983, showing the said ornaments as belonging to her. The Commissioner found that the Income-tax Officer had not conducted any enquiry into the source of acquisition of gold ornaments by the assessee as shown by her wealth-tax ret .....

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..... g thus, the Tribunal set aside the order of the Commissioner. Hence, this reference at the instance of the Revenue. At the hearing of this reference today, Mr. Tanvish Bhatt, learned standing counsel for the Revenue, has invited our attention to the decision of the Supreme Court in CIT v. Shree Manjunathesware Packing Products and Camphor Works [1998] 231, ITR 53, wherein the apex court has exami .....

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..... e Revenue. After examining the record and after making or causing to be made an enquiry, if he considers the order to be erroneous, then he can pass the order thereon as the circumstances of the case justify. Obviously, as a result of the enquiry he may come into possession of new material and he would be entitled to take that new material into account. If the material, which was not available to .....

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..... Act, 1961, particularly section 263 of the Act, or in the aforesaid pronouncement of the apex court which would require us to accept the narrow view which appealed to the Tribunal that the record must be of the assessee concerned and that the Commissioner had no power, jurisdiction and authority to take action under section 263 of the Act, in the case of the assessee on the basis of the records in .....

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