2021 (4) TMI 730

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.... Sh. YVST Sai, CIT, D.R. ORDER PER S.S. GODARA, J.M. These two assessee's appeals for AY 2009-10 arise against the CIT(A), Tirupathi's order dated 26.02.2019 and Pr.CIT, Tirupathi's order dated 26.02.2017 passed in case nos.10221/2017-18 and case no.263/PrCIT/TPT/2016-17 involving proceedings u/s 143(3) r.w.s. 263 of the Income Tax Act, 1961 (in short 'the Act'); respectively. Heard bo....

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....40/Hyd/2019. 3. Coming to assessee's appeal ITA 440/Hyd/19, we advert to Pr.CIT's revision directions contained in his order reading as under: "2. Later, it was found that the assessee paid cash aggregate of/which is exceeding Rs. 20,000/- in a single day for the purchases made from M/s. Pearl Beverages Limited during the year under consideration and the total of such cash payments wor....

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....s there was no compliance from the assessee, a final opportunity was afforded to the assessee vide letter dated 23-01-2017 posting the case for hearing on 06-02-2017 to file his objections, if any, for revision of his assessment. For this also, the assessee has not chosen to either appear in person or through his authorized representative to submit his explanation. 4. In the above circums....

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..... Hon'ble apex court's land mark decision Malabar Industrial Co. vs. CIT 243 ITR 83 (SC), CIT vs. Max India Ltd. (2007) 295 ITR 282 (SC) ad CIT vs. Kwality Steel Suppliers Complex (2017) 395 ITR 1 (SC) held that an assessment or re-assessment, as the case may be, could only be revised in case it satisfies the twin conditions of erroneous as well as causing prejudice to the interest of revenue; sim....