2022 (9) TMI 231

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.... order under section 263 of the Income Tax Act, 1961 as the assessment order passed by the Ld. AO is without jurisdiction, void, illegal and non est. 2. The Ld. Pr. CIT has erred in law and on facts in initiating and passing the order under section 263 of the Income Tax Act, 1961 as the assessment order sought to be revised is neither erroneous nor prejudicial to the interests of the revenue. 3. The ld. Pr. CIT has failed to apply his mind in proper perspective of the facts of the case and erred in setting aside the order passed under section 143(3) of the Income Tax Act, 1961 by the Ld. A.O. 3. The assessee filed return of income for A.Y. 2017-18 on 26.10.2017 declaring total income of Rs.1,33,360/-. The case was selec....

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....to assess the income correctly. So this case was partly set aside and further directed the Assessing Officer to pass fresh assessment order after properly ascertaining the correct facts on the above. 4. The Ld. AR submitted that the order passed under Section 263 of the Act is bad in law as the assumption of jurisdiction is bad and illegal as the assessment order passed by the Assessing Officer itself is not valid. As the ACIT, Circle-7(2) Ahmedabad passed the Assessment Order but the statutory notice under Section 143(2) of the Act was issued by ACIT, Surendra Nagar who has no jurisdiction over the assessee. The Ld. AR further submitted that the PCIT erred in law and on facts in considering that the order passed by the Assessing Officer....

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....has rightly passed the order under Section 263 of the Act thereby directing the Assessing Officer to pass a fresh assessment order after properly ascertaining the facts in respect of the EPCG claim. The Ld. DR further submitted that the issue of determination of income receivable under EPCG scheme for the year under consideration was never properly verified by the Assessing Officer while finalizing the assessment proceedings under Section 143(3) of the Act as the said claim was not offered as income by the assessee in respect of EPCG refund. The Ld. DR, therefore, relied upon the order of the PCIT. 6. We have heard both the parties and perused all the relevant material available on record. The PCIT in paragraph no.2 of the order has cate....