2014 (12) TMI 1021

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Per: K S Jhaveri: 1. This appeal u/s.260A of the Income Tax Act, 1961 is filed against the judgment and order dated 28.01.2005 passed by the Income Tax Appellate Tribunal, Rajkot Bench in ITA No.304/RJT/2000 whereby, both the appeal filed by the Revenue and the Cross Objection filed by the assessee were dismissed. 2. Briefly stated, the facts are that the respondent-assessee was carrying o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al. The Tribunal heard both the matters together and thereafter, vide impugned order dated 28.01.2005, the Tribunal dismissed both, the appeal filed by the Revenue and the cross-objections of the assessee. Hence, this appeal by the Revenue. 4. The appeal was admitted in respect of the following substantial question of law;             &n....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../w Order 26, R.9 of the Code since the consequences of reference to a Valuation Officer u/s.55A of the Act and of a commission issued u/s.75 r/w. Order 26, R.9 of the Code are different. It is not, therefore, a case of correction of an error in mentioning the section by the AO, an error which could be ignored by referring the action to the appropriate source of power.     &n....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....here was no need to specifically empower the AO to do so in certain circumstances under S.55A." 6. Learned counsel for the Revenue was not in a position to controvert the proposition of law laid down in the above referred-case or any subsequent decision where a contrary view has been taken. 7. Since we are applying the view taken in the above decision of the Hon'ble Apex Court, no elaborate ....