2014 (4) TMI 1141

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....or the Respondent : Mr. R. Bharadwaj, Adv. JUDGEMENT The subject matter of challenge in this appeal is a judgement and order dated 16th May, 2013 by which the learned Tribunal allowed the appeal preferred by the assessee against an order dated 23rd March, 2012 passed by the C.I.T. in exercise of power under Section 263 of the Income Tax Act which reads as follows : "In view of the above, ....

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....stock remaining constant. In this view of the matter we do find merit in the contention of the ld. Counsel for the assessee that the impounded books after the survey were not to be kept for a subsequent finding in so far as the assessee was to reconcile the difference if any and therefore sales whether converted to debtors as income received in bank whether could be reconciled by verifying the pur....

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....by the ld. CIT u/s 263 of the IT Act." Aggrieved by the order of the learned Tribunal the revenue has come up in appeal. The direction issued by the C.I.T. to pass a fresh assessment order after examining the evidence and documents, is in the backdrop of the fact that pursuant to the notice issued under Section 131 of the Income Tax Act and subsequent proceedings thereunder, it transpired that ....