TaxTMI 
TaxTMI 
2021 (10) TMI 404
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....hort) dated 19.12.2016 under Section 153A/143(3) of the Act concerning Assessment Year ("AY" in short) 2012-13 was sought to be set aside for reframing the assessment in terms of supervisory jurisdiction. 2. As per its grounds of appeal, the assessee has challenged the revisional action of the PCIT whereby the Assessing Officer was directed to pass the assessment order de novo after making inquiries on the points set out in the notice which has already examined and considered during the original assessment proceedings concerning AY 2012-13. The assessee has challenged the assumption of jurisdiction by the PCIT under Section 263 of the Act on the ground that the Assessment Order under revision is neither erroneous nor prejudicial to the int....
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.... Tribunal. 6. When the matter was called for hearing, the learned Counsel for the assessee, at the outset, submitted that the action of the PCIT is plainly without authority of law. The assessee was earlier subjected to assessment which stood completed earlier before the search and was thus not abated in terms of second proviso to Section 153A of the Act. The inquiries in the concluded assessment thus could not go without reference to incriminating material found in the course of search. In response to the substantive allegation of the PCIT that the transactions of the purchase done with M/s. Rajdhani Trading Company was not property verified by the Assessing Officer, the learned Counsel adverted to question No. 6 of the questionnaire date....
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.... reversal of revisional action. 7. The learned Departmental Representative, on the other hand, supported the action of the revisional authority and relied upon the revisional order. 8. We have carefully considered the rival submissions and perused the revisional order in question and also other materials referred to and relied upon by the respective sides and case-laws cited in this regard. On a broader reckoning, the factual position that emerges out is that the assessee has procured poultry feed from M/s. Rajdhani Trading Co. The revenue was in possession of certain information pertaining to M/s. Rajdhani Trading Co. and on the basis of that information, the Assessing Officer raised specific query and confronted the factual position to ....