2010 (3) TMI 1127

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....r s. 260A of the IT Act, 1961 against an order dt. 25th Sept., 2009 in ITA No. 579/Coch/2008 of the Tribunal. 2. The appellant herein is an assessee before the Asstt. CIT, Central Circle, Kozhikode. The assessment of the appellant with reference to the asst. yr. 2003-04 was completed under s. 143(3) of the IT Act by an order dt. 20th Jan., 2006. 3. Subsequently, the appellant received a noti....

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....r making a fresh assessment after affording necessary opportunities to the assessee and in accordance with law." 4. Aggrieved by the same, the appellant unsuccessfully carried the matter to the Tribunal by way of an appeal which was dismissed by order dt. 25th Sept., 2009 and hence the present appeal before this Court. 5. Sri Anil D. Nair, learned counsel for the appellant submitted that the....

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....tions of the said judgment read as follows : "There can be no doubt that the provision cannot be invoked to correct each and every type of mistake or error committed by the AO, it is only when an order is erroneous that the section will be attracted. An incorrect assumption of facts or an incorrect application of law will satisfy the requirement of the order being erroneous. In the same c....

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.... the above-mentioned credits of the appellant. 8. The CIT, on the other hand, set aside the assessment order on the ground of non-application of mind which according to the aforesaid judgment of the Supreme Court is a relevant consideration for exercise of the jurisdiction under s. 263 of the IT Act. The non application of mind, according to the CIT, is that the facts asserted by the appellant ....