TMI Blog2019 (3) TMI 899X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has been given reasonable opportunity of being heard in the notice u/s 263 of the Act and it is not allowable and open to the CIT to set out one reason for revising the assessment order but actually revising the assessment order on some other ground in addition to grounds which found place in the notice u/s 263 of the Act, by passing final order u/s 263 of the Act. We may further point out that the AO did not make any addition on any one out of four issues, which were raised and pointed out in the notice u/s 263 Accepting the above finding of recorded by the Tribunal, High Court HELD THAT no substance in the present appeal which gives arise to substantial question of law and, hence, the appeal is dismissed - The question of la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y. Further, there were Sundry Creditors of ₹ 10,81,49,561/- which were unexplained. The respondent-assessee paid ₹ 13,05,900/- towards designing charges on which no proper inquiry was made, as to whether, TDS was made on these payment or not. The respondent has shown fire loss of ₹ 62,58,623/- for which the Assessing Authority has neither taken any detail nor made any inquiry. On the basis of the above said facts notice was issued, the respondent submitted a detailed reply. In spite of the reply, having been submitted by the respondent, an order under Section 263 was passed on 18.3.2013 in which four directions were given by the Assessing Authority. On 17.2.2014, the Assessing Authority passed an order under Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso enlarge the scope of inquiry to entire Sundry Creditors and also estimate net profit at the rate of ₹ 5% of gross turn over of the Assessee which were not mentioned in the notice under Section 263 of the Act. In the impugned order, the Tribunal has recorded a finding of fact which is quoted as below:- 16. Under these clear facts and circumstances of the present case we hold that the issue is covered on all four corners in favour of assessee by decision of the coordinate bench of in the case of B.S. Sangwan (supra) and we are inclined to hold that the revision u/s 263 of the Act can only be passed on the ground on which assessee has been given reasonable opportunity of being heard in the notice u/s 263 of the Act and it is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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