2014 (7) TMI 551

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....taiah, A.M. This appeal by assessee is against the order of the Commissioner of Income Tax passed under section 263 of the I.T. Act, 1961. Assessee has raised 12 grounds mainly contesting that the order of the CIT is not correct as the order of the A.O. was neither erroneous nor prejudicial to the interests of Revenue. 2. Briefly stated, in this case scrutiny assessment under section 143(3) ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... company was not examined by the A.O. at the time of assessment made u/s.143(3), the order passed on 28.03.2013 u/s.143(3) was considered as erroneous as well as prejudicial to the interest of revenue by CIT and a show cause notice under section 263 of the I.T. Act was issued to the assessee company on 13.05.2013. Ld. CIT after giving opportunity to the assessee set aside the assessment order by s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....o re-do the same after considering the claims made in the revised return of income filed on 09.03.2012 by the assessee." (Emphasis supplied) 3. It was the contention of the Ld. Counsel that the order passed by the A.O. which was subject matter of revision by CIT was not erroneous, as admitted by the CIT in the order and only in the event the order was rectified, then the assessment may becom....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ar. Even otherwise, if A.O. rectifies the same then that order may become erroneous and prejudicial to the interests of revenue. But the assessment order passed by the A.O. per se is neither erroneous nor prejudicial to the interests of revenue. In view of this, the order of CIT setting aside the assessment cannot be upheld. Moreover, we are also not able to understand why the order was set aside.....