2022 (3) TMI 1447

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....e, CIT-DR. ORDER Per: Bench This is an appeal filed by the assessee against the order of the learned Principal CIT-2, Kochi under Section 263 of the Income Tax Act, 1961 dated 13.05.2020 for AY 2015-16. 2. Shri Savio George, CA represented the assessee and Shri Shantham Bose, CIT-DR represented Revenue. 3. It was submitted by the learned A.R. that the assessee is an individual who a....

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....on charges paid by the assessee. It was the submission that the said assessment was the subject matter of revision under Section 263 of the Act wherein in para 7 of his order the Pr. CIT had held as under: - "It appears from the records that the Assessing Officer had not conducted a proper enquiry or verification whether the transfer of capital assets was a residential house or not, and i....

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....t in the case of Gita Duggal reported in 357 ITR 153 has categorically held that for the purpose of Section 54 of the Act what is mentioned is a residential house and not a residential unit. It was further submitted that there are various decisions which have held that for the purpose of Section 54 of the Act multiple residential houses can also be considered. It was the submission that the issue ....

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.... fact the wordings used by the Pr. CIT are "it appears from the records. The words of Section 263 of the Act are "if he considers that any order passed by the Assessing Officer is erroneous in so far as it is prejudicial to the interest of Revenue". There is no question of making a prima facie view in the revision order. The error has to be specific. Also the issue raised by the Pr.CIT in the pres....