2022 (1) TMI 1297

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.... For the Appellant : Mr. P. K. Bhomick, Adv., Mr. M. N. Bandopadhyay, Adv. For the Respondent : Mr. S. M. Surana, Adv., Mr. Bhaskar Sengupta, Adv. ORDER The Court : This appeal by the revenue under Section 260A of the Income Tax Act, 1961(the Act for brevity) is directed against the order dated 16th January, 2019 passed by the Income Tax Appellate Tribunal, "C" Bench, Kolkata (Tribunal) ....

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....per provision to explanation 2 to Section 263 of the Act? We have heard Mr. P. K. Bhowmick, learned Standing Counsel appearing for the appellant/revenue and Mr. S. M. Surana, learned Counsel appearing for the respondent/assessee. The contention of the revenue before us is that the Tribunal failed to appreciate that the Principal Chief Commissioner of Income Tax had directed the Joint Commiss....

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....ts out that the appellant department has not controverted the contents of the letter of the Joint Commissioner of Income Tax dated 18th August, 2016 and has recorded that the said letter clearly brings out that the PCIT has called for proposal from the JCIT/Assessing Officer to exercise jurisdiction under Section 263 of the Act. Therefore, the Tribunal concluded that the PCIT has not exercised jur....