2021 (8) TMI 951

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....s of the case, the order passed by the Ld. PCIT U/s. 263 of the Act is ab initio void being bad in law. 2. On the facts and in the circumstances of the case, the Ld. PCIT erred in setting aside the assessment order dated 06/12/2018. 3. On the facts and circumstances of the case, invoking section 263 is bad in law as the Assessing Officer before passing the Assessment Order duly made verification or enquiry by issue of notice and obtaining explanation from the appellant. Hence, the order passed by Ld. PCIT U/s. 263 is against the provision of Explanation 2 of section 263 of the Act. 4. On the facts and circumstances of the case, invoking section 263 is bad in law as the Assessing Officer has taken a plausible view ....

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.... 9. On the facts and circumstance of the case, the Ld. PCIT erred in directing to re-do the assessment de novo for making the enquiries without pointing out how the assessment order is erroneous. 10. Any other ground or grounds that may be urged at the time of hearing." 3. The brief facts of the case are that the assessee is an individual engaged in the profession as Chartered Accountant filed his return of income on 8/2/2017 for the AY 2016-17 declaring taxable income of Rs. 4,72,880/- under the head income from business, income from profession, income from house property and income from other source besides agricultural income of Rs. 28 lakhs. The case of the assessee was taken up for scrutiny under CASS and thereafter the ass....

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....d. AO has stated that he had examined the cash flow statement for the relevant assessment year, income & expenditure statement, balance sheet, source of cash receipts, bank statements, particulars of agricultural income, agreement in respect to sale of agricultural produce, Dharma Kanta Bills, documents regarding purchase of immovable property during the relevant assessment year, cash book, bank book etc., and thereafter passed the assessment order. Further, from the order of the Ld. PCIT itself it is apparent that the ld. AO had also made enquiries by deputing his inspectors regarding the agricultural operations conducted by the assessee and the agricultural income earned by the assessee from the 130 Acres of agricultural land which was un....