2011 (4) TMI 1322

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....L. Dihana ORDER Shamim Yahya (Accountant Member) This appeal by the Assessee is directed against the order dated 16.3.2007 passed u/s 263 of the IT Act by the Ld. Commissioner of Income Tax, Delhi-V, New Delhi. 2. At the threshold, it is noticed that there is delay of 1049 days in filing the appeal. The assessee in this regard has filed a condonation petition which inter-alia reads as under:- ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....long the assessee bank was under the bonafide impression that the appeal would lie against the order in which the addition has been made and the demand raised. Since the ITAT has rejected the appeal of the assessee without considering the merits, the assessee bank is filing this appeal against the order of the C.I.T." 3. We have heard the rival contentions and perused the relevant records on th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....basis of his decision. He has not relegated the issue to the file of the Assessing Officer for readjudication." 3.1 Thereafter on 8.4.2010 the assessee filed appeal against C.I.T. order u/s 263 of the Act. 3.2 Thus, we find that the tribunal order is based upon the premise that the order u/s 263 has become final. Assessee has not pointed out to the tribunal that it was challenging the order u/s ....