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TMI Blog2019 (3) TMI 10X X X X Extracts X X X X X X X X Extracts X X X X ..... assed u/s.263 on 22-3-2017 for A.Y.2012-13 by CIT-3, Abad setting aside the regular assessment made on 10 09-2014 by AO is wholly illegal, unlawful and against the principles of natural justice. 1.2 The Ld. CIT has grievously erred in law and or on facts in exercising his powers u/s 263, though the regular assessment made u/s 143(3) on 10-9-2014 by AO was neither erroneous nor prejudicial to the interest of the Revenue. The Ld. CIT has grievously erred in law and or on facts in invoking the provisions of section 263 of the Act. 2.1 The Ld. CIT has grievously erred in law and on facts in holding that the appellant had claimed exemption u/s 10A which was not admissible for this year. 2.2 That in the facts and circumstances of the case a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... et aside the assessment order passed by the AO under s.143(3) of the Act for AY 2012-13 with a direction to frame the order afresh after making proper verification regarding admissibility or otherwise or deduction under s.10AA of the Act claimed by the assessee. The relevant operative para of the order of the Pr.CIT is reproduced as under: "5. The reply of the assessee has been carefully considered, keeping in view the facts of the case, the evidences available on record. The contentions raised by assessee are not acceptable due to the following reasons. (i) Perusal of the audit report now submitted by the authorized representative of the assessee reveals that the report is given for section 10A of the I T Act, whereas in the return of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer is directed to ensure that adequate and due opportunity of being heard is granted to the assessee." 4. Aggrieved by the aforesaid direction of the Pr.CIT cancelling the assessment order passed under s.143(3) of the Act for re-framing thereof, the assessee preferred the appeal before the Tribunal. 5. The learned AR for the assessee at the outset submitted that the ingredients of Section 263 of the Act are not fulfilled and therefore, the Pr.CIT has wrongly assumed the jurisdiction conferred under s.263 of the Act. The learned AR submitted that the assessment order which is subject matter of revision by the Pr.CIT is neither erroneous nor prejudicial to the interest of the Revenue. The learned AR pointed out that the relevant form n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder s.10AA of the Act. A bare reading of the order of the Pr.CIT shows that the AO has failed to make inquiry into the relevant aspects concerning eligibility towards deduction under s.10AA of the Act. The prescribed form required for the purposes of claim of deduction under s.10AA of the Act was not available before the AO. The AO did not make any inquiry in this regard. The form ultimately filed before the Pr.CIT was also found with reference to Section 10A in place of Section 10AA of the Act. Thus, the prescribed form presumably directory in nature, as claimed by the assessee has not been placed on record to appreciate the correctness of deduction claimed. The approval of the SEZ authority likewise was also not placed before the AO nor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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