2014 (7) TMI 1172

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....the Respondent: Shri Ajoy Kumar Singh, CIT, D.R., O R D E R Per George Mathan: This is an appeal filed by the assessee against the order passed under section 263 of the Income Tax Act, 1961 of ld. Commissioner of Income Tax, Kolkata-III, Kolkata in Appeal No. CIT-III/DC(HQ) 3/Kol/263/2012-13/7933 dated 28.02.2013 for the assessment year 2008-09. 2. Shri Manoj Kataruka, Advocate, represent....

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....en specifically applied while making the disallowance under section 14A. On a specific query from the Bench, it was submitted by the ld. A.R. that the assessment order in consequence to the 263 order has been passed by the Assessing Officer on 16.12.2013 wherein the only difference between the computation as made by the assessee and the consequential assessment order was in respect of the third it....

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....was the submission that the fact that there was a variation in the computation of the disallowance under section 14A clearly showed that the provisions of section 263 had been rightly invoked by the ld. CIT. He vehemently supported the order of ld. CIT.   5. We have considered the rival submissions. As it is noticed that the consequential order has already been passed in respect of the ord....