TaxTMI 
TaxTMI 
2023 (4) TMI 66
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....out in the affidavit filed in support of the application for condonation. We find sufficient cause has been shown for not preferring the appeal within the period of limitation. Accordingly, the application for condonation of delay (IA No.GA/1/2023) is allowed and the delay in filing the appeal is condoned. This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the 'Act' for brevity) is directed against the order dated 18th April, 2022 passed by the Income Tax Appellate Tribunal, "B" Bench, Kolkata (the Tribunal) in ITA No.205/Kol/2021 for the assessment year 2009-10. The revenue has raised the following substantial questions of law for consideration: (i) Whether the Tribunal has erred in quashing the revisiona....
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....er, 2019 set aside the order dated 28th March, 2013 passed under Section 263 of the Act and remanded the matter back to the PCIT for a fresh decision. While the matter was pending, the Assessing Officer completed the assessment pursuant to the search and seizure operation under Section 153A read with Section 143(3) by order dated 23rd March, 2015. The assessee moved the Tribunal and filed a miscellaneous application stating that in the light of the order passed under Section 154A dated 23rd March, 2015, the assumption of jurisdiction by the PCIT under Section 263 of the Act was unsustainable. Though the Tribunal rejected the said miscellaneous application by order dated 22nd January, 2020, there was a direction issued to the Commissioner of....
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....ords of the particular assessment year. Bearing the above legal principle in mind, the Tribunal proceeded to examine the facts of the case and has recorded the following findings: "So in the light of the aforesaid ratio of the decision made by the Hon'ble Supreme Court after considering the meaning of 'records' which has been answered in the light of the Explanation (1) inserted by the Finance Act, 1988, which state that record shall include and shall be deemed always to have been included all records relating to any proceedings under this Act available at the time of examination by the Ld. Pr. CIT or Commissioner. In the light of the aforesaid given in the statute, the Ld. Pr. CIT while calling for and examining the record of any proceed....
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....e about the 'nature and source' of the share capital and premium collected by the assessee during the relevant assessment year. Pursuant to the notice u/s. 142(1) of the Act dated 11.11.2014, placed at pages 67 to 68 of the paper book. The assessee had filed the details of shares allotted and documents filed before the ROC as well as the bank statement including the bank book filed. It is noted that after the assessee having filed the details of the twenty five (25) SHARE subscribers, the AO had issued notice u/s. 133(6) of the Act to all the shareholders in order to examine their respective identity, creditworthiness and genuineness which is available from page nos.72 to 94 of the paper book. It is also noted that all the share subscribers....