2022 (11) TMI 486

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..... Mr. Vivek Murarka, Adv, Mr. Dibanath Dey, Adv. ORDER This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act, for brevity) is directed against the order dated 22nd December, 2021, passed by the Income Tax Appellate Tribunal, `A' Bench, Kolkata (Tribunal) in ITA No.176/Kol/2021 for the assessment year 2016-17. The revenue has raised the following substantial qu .....

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..... of the said Act ? iv) Whether in the facts and circumstances of the case the Tribunal was justified in law to allow the appeal of the assessee by quashing the revisional order without verifying the facts and circumstances of the case thereby giving arise to perversity which is otherwise erroneous in law ? We have heard Ms. Smita Das De, learned standing Counsel appearing for the appellant/revenu .....

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..... had been taken, the revisional authority cannot sit in judgment over such an assessment order as if exercising power as a first Appellate authority. Being aggrieved by the order passed by the PCIT dated 25th March, 2021, in the appeal before the Tribunal as well as before us, the assessee has been able to establish that three issues which were pointed out by the PCIT was, in fact, discussed by t .....

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..... n the exercise of power under Section 263 of the Act is that the supervisory jurisdiction to circumstances must exist to enable the Commissioner to exercise power of revision namely, the assessment order should be erroneous and it should be prejudicial to the interest of the revenue. If the Assessing Officer has taken a decision in accordance with law, the said order cannot be termed to be erroneo .....

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..... nd all that the revisional authority states is that no enquiry was conducted, which is factually incorrect. Thus, we find that the learned Tribunal rightly granted relief in favour of the assessee and we find no grounds to interfere with the order passed by the learned Tribunal. Accordingly, the appeal fails and is dismissed. The substantial questions of law are answered against the revenue. T .....

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