2019 (7) TMI 443

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....O R D E R CM APPL. 29647/2019 (delay) 1. For the reasons explained in the application, the delay in re-filing the appeal is condoned and the application is allowed. ITA 564/2019 2. The Revenue is in appeal against an order dated 28th September, 2018 passed by the Income Tax Appellate Tribunal (ITAT) in ITA No. 2394/Del/2018 for the Assessment Year (AY) 2013-14. 3. The question of la....

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....5. After the assessment order was passed on 31st March, 2016, the PCIT decided to invoke Section 263 of the Act. According to the PCIT, the assessment order was both erroneous and prejudicial to the interest of the Revenue to the extent that the assessment had been completed without proper examination of the verification of the transaction with M/s AMQ Agro India Pvt. Limited (AAIPL). It was obser....

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....08 ITR 91 Mr. Hossain, learned Senior standing counsel for the Revenue urged that the ITAT could not have substituted its own view on merits for that of the AO and it was properly within the domain of the PCIT to require a fresh assessment exercise to be undertaken in the facts and circumstances of the case. 8. The Court having examined the said decision is of the view that in the facts and cir....