2017 (9) TMI 1780

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....that his father expired on 24.03.2017, due to sudden demise of his father the appeal could not be filed in time. We have considered the submissions made by the assessee for condonation of delay and heard both the parties and convinced that there is a reasonable cause for delay in filing the appeal and accordingly delay is condoned and the appeal is admitted. 3. All the grounds of appeal are related to the order passed by Ld.Pr.CIT u/s 263 of I.T.Act. In this case, the assessment was originally completed u/s 143(3) by an order dated 29.12.2011. Subsequently, the CIT has taken up the case for revision and passed an order u/s 263 on 25.02.2014 directing the assessing officer to examine the following issues : (i) Postal deposit of R....

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....ailed to refer the cost of construction to the valuation cell. The assessing officer was further directed to enquire the genuineness of the transaction with regard to Munnangi Kalpana Devi, owner of the land, but the assessing officer has not verified the same. Hence, the Pr.CIT was of the view that apparent error of reasoning of law or fact on the face of it is erroneous and prejudicial to the interest of the revenue and accordingly set aside the assessment order passed u/s 143(3) r.w.s. 263 for redoing the same after conducting the proper enquiries as per the directions given by the CIT. Aggrieved by the order of the CIT, the assessee is in appeal before this Tribunal. 4. Appearing for the assessee, Ld.AR argued that the CIT has taken ....

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....the case for revision to examine the issues raised by his predecessor in the revision order u/s 263 dated 25.02.2014 with respect to the postal deposit, agricultural loans and construction of building in the name of Syamala a/c. The Pr.CIT has given direction to the assessing officer to complete the assessment after examination of the details. The assessing officer has examined the details submitted by the assessee and completed the assessment with the following findings/observations. "1. Interest on postal deposits:- The assessee has came forward to admit the same for tax purpose as they are unable to produce the details of closed postal deposits and, hence, interest of Rs. 37,646/- added to the income assessed. 2. Agricu....