2011 (1) TMI 1175

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.... "1.  That the learned Commissioner of Income-tax has not brought on record what part of the order of the Assessing Officer under section 143(3) is erroneous when all the expenses have gone down as compared to the earlier year, i.e.     This year   Last year   Raw material 1,16,861 against 1,85,777   Electricity 26,299 against 1,21,705   Fuel expenses 9,979 against 19,843   Establishment 27,181 against 1,08,726  2.  That the order of the learned Commissioner of Income-tax under section 263 is solely on the basis of guess work and doubted the expenses.  3.  That the learned Commissioner of Income-tax ha....

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..... Aggrieved with the order of the learned Commissioner of Income-tax, the assessee is in appeal before us. 4. In the course of the present appellate proceedings, learned counsel for the assessee vehemently contended that the issues raised by the learned Commissioner of Income-tax, while passing the impugned order under section 263 of the Act, have been duly considered and adjudicated by the Assessing Officer in his impugned assessment order. Therefore, the learned Commissioner of Income-tax is not competent to readjudicate the same issues under section 263 of the Act, having regard to various decisions of the hon'ble Supreme Court and several High Courts. Learned counsel for the assessee placed reliance on the following decisions : (i....

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....itional extraordinary income of more than Rs. 8 crores, why total income had come down when compared to immediate previous year." (iv)  The decision of the hon'ble Rajasthan High Court, in the case of CIT v. Trustees Anupam Charitable Trust [1987] 167 ITR 129/31 Taxman 335 (Raj). 5. Learned counsel also referred to various paragraphs of the assessment order demonstrating consideration of the issue raised by the learned Commissioner of Income-tax in the impugned order. 6. The learned Departmental representative on the other hand placed reliance on the order of the learned Commissioner of Income-tax. 7. We have heard both parties, carefully perused the facts of the case, rival submissions, relevant pages of the paper book and....