TaxTMI 
TaxTMI 
2023 (7) TMI 1046
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....d that documents would be communicated to the assessee electronically on the day when DIN was generated. It means this order must have been communicated to the assessee on 01.03.2022 itself. In response to the objection of the Registry, the assessee has filed an application for condonation of delay. It has pleaded that though order was shown as passed on 01.03.2022, but it was not available in the Portal and assessee only came to know about the availability of the order on 26.12.2022. Though it is a debatable exercise to find out whether, order was uploaded on the Portal or not. It will take much time and energy and, therefore, in order to achieve the objective of justice, we deem it appropriate to condone the delay and decide this appeal on merit. 3. The assessee has taken six grounds of appeal, which contains pleadings on general points also, namely that assessee may be given liberty to modify the grounds etc. In brief the sole grievance of the assessee is that the ld. Pr. CIT has erred in exercising the powers under section 263 and thereby setting aside the impugned assessment order dated 14.11.2019 and directing the ld. Assessing Officer to reframe the assessment order. 4....
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....it report was also placed on record, though it is in Bengali. According to him, the ld. Pr. Commissioner ought to have verified the availability of the cash by himself instead of relegating it to the ld. Assessing Officer. Therefore, in the opinion of the ld. Counsel for the assessee, the order of the ld. Pr. CIT is not sustainable. 7. During the course of hearing, we confronted the ld. Counsel for the assessee to show which questionnaire was issued to the assessee by the ld. Assessing Officer for verifying this cash, because no questionnaire has been placed on record. Similarly we put to him how this availability of the cash placed before the Tribunal in a paper book could be verified. The verification can be made at the end of the ld. Assessing Officer. Only on these questions, ld. Counsel for the assessee agreed that if matter is relegated to the ld. Assessing Officer for verification of the cash available with the assessee, then, he has no objection. 8. The ld. CIT(DR), on the other hand, contended that once assessee is ready to get its accounts verified at the level of the ld. Assessing Officer demonstrating the availability of the cash, out of which cash deposits were m....
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....m the end of the financial year in which the order sought to be revised was passed. (3) Notwithstanding anything contained in sub-section (2), an order in revision under this section may be passed at any time in the case of an order which has been passed in consequence of, or to give effect to, any finding or direction contained in an order of the Appellate Tribunal, National Tax Tribunal, the High Court or the Supreme Court. Explanation.- In computing the period of limitation for the purposes of sub-section (2), the time taken in giving an opportunity to the assessee to be reheard under the proviso to section 129 and any period during which any proceeding under this section is stayed by an order or injunction of any court shall be excluded." 10. A bare perusal of the sub section-1 would reveal that powers of revision granted by section 263 to the learned Commissioner have four compartments. In the first place, the learned Commissioner may call for and examine the records of any proceedings under this Act. For calling of the record and examination, the learned Commissioner was not required to show any reason. It is a part of his administrative control to call f....
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....be treated as prejudicial to the interests of the Revenue and if the AO has adopted one of the courses permissible under law or where two views are possible and the AO has taken one view with which the CIT does not agree. If cannot be treated as an erroneous order, unless the view taken by the AO is unsustainable under law. (vi) If while making the assessment, the AO examines the accounts, makes enquiries, applies his mind to the facts and circumstances of the case and determine the income, the CIT, while exercising his power under s 263 is not permitted to substitute his estimate of income in place of the income estimated by the AO. (vii) The AO exercises quasi-judicial power vested in him and if he exercises such power in accordance with law and arrive at a conclusion, such conclusion cannot be termed to be erroneous simply because the CIT does not fee stratified with the conclusion. (viii) The CIT, before exercising his jurisdiction under s. 263 must have material on record to arrive at a satisfaction. (ix) If the AO has made enquiries during the course of assessment proceedings on the relevant issues and the assessee has given detailed explan....