9911796707
TMI Blog2022 (8) TMI 429X X X X Extracts X X X X X X X X Extracts X X X X ..... Singh, CIT-DR ORDER PER ANIKESH BANERJEE , J. M. The instant appeal was filed by the assessee against the Order of the Learned Principal Commissioner Income Tax -1, Mumbai [In short PCIT], order passed u/s 263 of the Income Tax Act, 1961 (in short "Act"), the order dated 30.03.2018 for the assessment year 2010-11. The impugned order was originated from the order learned Asst. Commissioner of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and setting aside the order passed u/s 143(3) r.w.s. 263 of the Act on 31.03.2016 and direct to assess afresh denovo for Ay 2010-11. 2.1 In the meantime the assessee filed an appeal against the order u/s 263 of the Act of Ld. PCIT, the order passed on dated 30.03.2015 which was challenged before the ITAT. The ITAT has adjudicated the issue & passed order dated 18.04.2022 bearing in ITA No. 3282/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... invoking the revisionary power u/s 263 of the Act without appreciating the fact that the Ld. A.O. after making all possible enquiry examining the fact and proper application of mind completed the assessment of the assessee u/s 143(3) of the Act which was in accordance with the provisions of law. The learned counsel of the assessee relied on the following judgment of the Hon'ble Apex Court reads as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Hon'ble Delhi High Court in the case of CIT vs. International Travel House Ltd reported in 344 ITR 554 (Del), it has been held that the PCIT is not permitted to exercise his revisional powers to conduct a roving or a fishing inquiry with a view to detecting alleged potential sources of income. 12. In view of the above elaborate observations, we hold that the Ld. PCIT had grossly erred in in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quashed by the ITAT in order dated 18.04.2022. Accordingly, this order passed u/s 263 of the Act has no leg to stand. The execution of order u/s 143(3) r.w.s. 263 is also has no life after the order of ITAT. The order passed u/s 263 of the Act on 13.03.2018 was generated on basis of nonest order. So entire foundation of the second round of order u/s 263 is beyond jurisdiction. Accordingly, the o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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