2016 (2) TMI 1270

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....JUDGMENT N.K. PATIL, J This appeal is by the revenue being aggrieved by the impugned order dated 18.07.2014 passed in ITA No.317/Bang/2013 on the file of Income Tax Appellate Tribunal, Bangalore confirming the order passed by the Appellate Commissioner, confirming the order passed by the Deputy Commissioner of Income Tax, Circle-11(4), Bangalore, for considering the following substantial que....

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....ort has reported that a notice under section 143(2) dated 14.09.2011 was also issued with reference to the revised return and that the assessing officer had recomputed the profits by applying percentage completion method and arrived at the taxable income in the assessment order? 3. Whether the Commissioner of Income Tax (Appeals) and the Tribunal were correct in annulling the assessment order w....

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....der passed by the Appellate Commissioner. Being dissatisfied with the orders impugned, the appellants have presented this appeal. 3. We have heard the learned counsel appearing for the appellants and the learned counsel appearing for the respondent-assessee. 4. Sri K.V. Aravind, learned counsel appearing for the appellants, after going through the original re cords available, submits that th....

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....sessee as required under the relevant provisions of the Act and Rules. Therefore, answering the substantial questions of law does not arise for consideration. 6. The Appellate Authority has taken into consideration all these aspects of the matter and recorded a clear finding of fact by assigning valid and cogent reasons, holding that no acknowledgment as such has been produced by the revenue, i....