2020 (10) TMI 520

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....e appeal pertains to the Assessment year 2007-08. The appeal was admitted by a bench of this Court vide order dated 09.03.2015 on the following substantial questions of law: (i) Whether in the facts and circumstances of the case, the Tribunal is justified in law in condoning the delay of 360 days when it itself as held that the reasoning given by the assessee that it was not aware that an appeal ought to have been filed before the Tribunal delay notice was issued by the Commissioner of income tax for the assessment year 2009-10 was not acceptable as the notice under section 263 was issued on 13.10.2011 and the case was heard on extreme 16.11.2011 which was represented by the same counsel who had appeared before the Tribunal on an a....

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....on the facts and in the circumstances of the case, in holding that Commissioner of income tax has no power to revise the assessment for the inadequacy of enquires by the assessing officer or insufficiency of material on record without appreciating that this Commissioner has not imposed his view on the assessing officer on the issue under consideration and that Commissioner of income tax had merely directed assessing officer to verify the claim in detail? 2. Facts leading to filing of the appeal briefly stated are that the assessee came to be involved in the business of development and maintenance in respect of infrastructure facilities for software and related sectors. The assessee had filed its return of income for the Assessment Year 2....

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.... other hand, learned counsel for the assessee has supported the order passed by the Tribunal and has submitted that the Tribunal has rightly quashed the order passed by the Commissioner of Income Tax, as provisions of Section 263 are not attracted in the fact situation of the case. 4. We have considered the submissions made by learned counsel for the parties and have perused the record. Before proceeding further, it is apposite to take note of the relevant extract of Section 263 of the Act, which reads as under: 263. Revision of orders prejudicial to revenue (1) The Commissioner may call for and examine the record of any proceeding under this Act, and if he considers that any order passed therein by the Assessing Office....