1981 (2) TMI 126

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....judgment against the findings in Indian & Eastern Newspaper Society vs. CIT (1979) 12 CTR (Supreme Court) 190 : (1979) 119 ITR 996 (Supreme Court). 3. That the order of the ld. CIT on the point of interest paid at 18% against receipt of 12% thereby desiring to add 6% as a fresh material for action under s. 263(1) is against facts on record and findings in 1980 UPTC 43 (All). 4. That the order of the ld. CIT is without jurisdiction since the ITO's order already stood merged in the order of the ld. CIT (Appeals) and decision in J.K. Synthetics Ltd. vs. Addl. CIT & Anr. (1976) 105 ITR 344 (All) fully applies to the present case. 5. That without prejudice to other grounds there was no prejudice to the revenue and even on merits there w....

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....g the record found that prima facie the assessment order was erroneous and prejudicial to the interest of the revenue. A notice was issued to the assessee and in compliance thereto, various submissions were made and written arguments were filed. After having considered the matter the ld. CIT set aside the assessment order with the following observations: "After going through the case records and also the written arguments of the assessee, I find that the order of the ITO under s. 143(3) dt. 19th June, 1978 for the asst. yr. 1978-79 is erroneous and prejudicial to the interest of revenue as discussed above and the assessment is accordingly set aside." Hence the instant appeal by the assessee on the grounds mentioned above. It was conte....