TMI Blog2001 (9) TMI 70X X X X Extracts X X X X X X X X Extracts X X X X ..... me-tax Act, 1961 (for short 'the Act"), against the order dated April 17, 2001, passed by the Income-tax Appellate Tribunal, whereby the appeal preferred by the assessee against the order passed by the Commissioner of Income-tax exercising powers under section 263 of the Act, has been allowed. Initially, the assessment of the respondent-assessee was completed under section 143(3) of the Act, sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee and also for not imposing penalty under section 271(1)(c) of the Act. Consequently and in the result the Commissioner of Income-tax issued a notice to the assessee under section 263 of the Act. After obtaining the comments of the assessee, the Commissioner of Income-tax set aside the assessment order with direction to make the assessment de novo for determining the proper non-agricultural in ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
