2016 (1) TMI 487

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....einafter also called 'the Act') in relation to the captioned assessment years. Since all these appeals are based on largely similar facts and common grounds of appeal, we are proceeding to dispose them off by this consolidated order for the sake of convenience. 2. Briefly stated the facts of all the cases in this batch are similar inasmuch as returns were filed by such companies with meagre income; intimations were issued u/s 143(1); thereafter notices u/s 148 were issued either at the instance of such companies divulging a paltry escapement of income or otherwise ; assessment orders were passed u/s 143(3) read with section 147 after making nominal additions and the AOs, during the course of such assessment proceedings, made some formal ....

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.... that similar grounds have been decided by the tribunal against the assessee in its lead order passed in Subhlakshmi Vanijya Pvt. Ltd. (infra). In fact, no separate arguments were advanced in support of such grounds by contending that the facts are similar to those already considered and decided by the tribunal in the above referred case and he was raising these grounds for keeping the matter alive before the Hon'ble High Court. In view of the above submissions, we dismiss these additional grounds of appeal. 7. Qua the grounds taken up in the memorandum of respective appeals, we have heard the rival submissions and perused the relevant material on record. It is relevant to mention that we have disposed of more than 500 cases involving sa....

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....nquiry conducted by the AO in the given circumstances is as good as no enquiry and as such, the CIT was empowered to revise the assessment order ; iv) The order of the CIT is not based on irrelevant considerations and further in the present circumstances, he was not obliged to positively indicate the deficiencies in the assessment order on merits on the question of issue of share capital at a huge premium ; and v) the AO in the given circumstances can't be said to have taken a possible view as the revision is sought to be done on the premise that the AO did not make enquiry thereby rendering the assessment order erroneous and prejudicial to the interest of the revenue on that score itself. C. In the given facts an....