2019 (5) TMI 1606

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....ent Through: Mr. Rohit Jain and Mr. Aniket D. Agarwal, Advocates   O R D E R 1. The Revenue is in appeal against an order dated 13th December, 2017 passed by the Income-Tax Appellate Tribunal (ITAT) in ITA No. 2321/2014 for Assessment year (AY) 2009-2010. 2. The question of law urged by the Revenue in the present appeal is whether the ITAT was justified in setting aside an order pass....

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....crores was not properly enquired into by the AO; (ii) The substantial fall in the gross profit was not enquired into and (iii) the household expenditure claimed by the Assessee was not commensurate with the size and family status of the Assessee. 5. The Pr. CIT accordingly issued a show cause notice to the Assessee on 12th August, 2013. After considering the reply of the Assessee, the Pr. CIT b....

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.... and prejudicial to the interests of the Revenue. Since this is a fundamental requirement for assumption of jurisdiction under Section 263 of the Act, the ITAT set aside the impugned order by the Pr. CIT. 7. The Court has heard learned counsel for the parties. Learned counsel for the Revenue has taken the Court through the order of the Pr. CIT in some detail. The Court finds that it only contai....