TaxTMI 
TaxTMI 
2023 (9) TMI 255
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....) of the Act without enquires on the above issues and accepted the submissions of the assessee" 2. BECAUSE the ld. Pr. Commissioner of Income-tax has erred in law and on facts in holding that the A.O has not examined/enquired into the facts of the case is contrary to the facts on record that the assessment order dated 24.12.2019 was passed by A.O. after examining the books of account and all the contentions/replies of the assessee as per the queries raised under section 142(1) of the Act. 3. BECAUSE the ld. Pr. Commissioner of Income-tax has erred in law and on facts in holding that there was lack of inquiry dehors the notice u/s 142(1) of the Act dated 17.10.2019 in which the Ld. A.O has asked the assessee to furnish the details business along with the books of account, ledger account, cash flow statement and bank details with details of deposits. 4. BECAUSE the ld. Pr. Commissioner of Income-tax has erred in law and on facts in not finding any error in the notice issued by the A.O. 5. BECAUSE the ld. Pr. Commissioner of Income-tax has erred in law and on facts in making fresh allegation/issues in his order passed under section 263 of the Act wh....
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....id assessment order was passed without proper enquiry with regard to the following points: i) No enquiry made by the AO regarding genuineness of the source of cash deposit of Rs. 18,00,000/- on 10.11.2016 in Bank of Baroda Account and Rs. 14,86,500/- from 08.11.2016 to 17.11.2016 in Dena Bank account during demonetization period. ii) AO did not enquire about the details of license issued to him for the trading of liquor. iii) During the year, there was addition to member's capital account amounting Rs. 79.10 lakhs. AO did not verify the source, genuineness, creditworthiness of the partners as well as the mode of payment. iv) There were major expenses like purchases, processing fees, carriage onwards and other expenses, which were not examined by the AO neither with regard to genuineness of the expenses claimed nor whether the same were allowable as per provisions of the Act. v) During the year, the assessee has paid security deposit of Rs. 40 lakhs from 04.04.2016 to 07.04.2016. The AO has not verified the source of this huge amount deposited in cash. The Assessing officer has passed the assessment order on 29.07.2019 u/s 14....
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.... himself in an unenviable position where on the one hand, its appeal cannot be heard before the ITAT and on the other hand, the Assessing Officer is proceeding to finalize the assessment under the very orders, which are under challenged in appeal before the ITAT, by 31st March, 2023. Hence, this petition seeking deferment of assessment proceedings. Shri Dixit, learned counsel for the Income Tax Department says that the Assessing officer is under an obligation to complete the proceedings by 31st March, 2023, lest they become time barred. However, he could not deny the fact that the appeal of the petitioner cannot be heard as of now on account of nonavailability of Members at the ITAT. At this stage, learned counsel for the petitioner invited our attention to the provisions contained in Section 153 of the Income Tax Act regarding time limit for completion of assessment proceedings, reassessment and re-computation specially explanation-1 thereof. According to which for the purposes of this section in computing the period of limitation inter-alia the period during which assessment proceedings is stayed by an order for injunction of any Court shall be excluded. ....
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....ee's total income was assessed at Rs. 89,85,720/- as against returned income of Rs. 87,06,920/-. Subsequently, vide aforesaid impugned order dated 22/02/2022 of the learned PCIT, the aforesaid assessment order dated 24/11/2019 was set aside and the Assessing Officer was directed to frame de novo assessment as per law. The learned PCIT was of the opinion that the Assessing Officer had not examined/enquired into the details of the facts of the case and the assessment order passed u/s 143(3) of the IT Act was erroneous in so far as prejudicial to the interest of the Revenue. In this case there are directions from Hon'ble Allahabad High Court, vide order dated 24/03/2023 in Writ Petition bearing No. 70 of 2023 which was filed by the assessee seeking writ of mandamus directing the Assessing Officer not to finalize the remand assessment proceedings in pursuance to the order dated 22/02/2022 passed u/s 263 of the IT Act which were initiated by means of a notice u/s 142(1) of the IT Act dated 03/03/2023, till decision of appeal I.T.A. No.75/Lkw/2022, pending before learned Income Tax Appellate Tribunal ("ITAT" for short). Vide aforesaid order dated 24/03/2023, Hon'ble Alla....
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.... Counsel for the assessee admitted the following: (i) It is not the prevailing practice in ITAT to hold separate hearings for admission of the appeal or for interim relief. All matters are heard together. If either side wishes interim relief/interim order, a separate application is filed by the concerned party. In the present case, no such application was filed by either side. (ii) In this case, the appellant assessee did not approach ITAT with an application for early hearing of the appeal, and instead approached Hon'ble High Court by filing Writ Petition (Writ Tax No.70 of 2023). In case the assessee had approached ITAT with request for early hearing, it was possible to grant early hearing (through video conferencing, if required) despite non availability of Members of ITAT in Lucknow by way of physical presence. (iii) Even if the Assessing Officer passes fresh assessment order in pursuance of aforesaid order dated 22/02/2022 and learned PCIT before disposal of this appeal; the fresh assessment order would be liable to be quashed in case the aforesaid order dated 22/02/2022 of learned PCIT is quashed by ITAT while disposing off this appeal in ITAT. ....
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....elevant portion of which is reproduced as under: "1. The appellant - assessee most humbly submits that on the last date of hearing i.e. 22.06.2023, it was argued by the Ld. Counsel that 'the liquors cannot be purchased from the open market.' Since, at the time of hearing 'United Provinces Excise Act, 1910 (U.P. Act no. IV of 1910)' was not available; the Hon'ble Bench was pleased to grant time to file materials in support the contention. The appellant has filed the aforesaid 'Act' along with the paper book. It is at serial no 13 of the paper-book. 2. It is respectfully stated that sec.3 (13) defines "intoxicant" means any liquor or intoxication drug as defined by this Act. Sec. 6 provides power of the State Government to declare limit of sale by retail; and sec. 7 provides sale by whole sale. Sec.20 of this Act provides that 'Possession of intoxicants in excess of the quantity prescribed by the State Government prohibited except under permit. Sec. 21 provides sale of intoxicant without license prohibited. Further, sec. 60 of the aforesaid Act provides 'Penalty for unlawful import, export, transport, manufacture, possession, sale....
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....hdrew earlier paper book filed 15/06/2023 and filed a fresh paper book with amended certificate, expressing apology for the inconvenience caused due to typographical error. We accept the apology; and also accept the explanation that wrong certificate filed along with paper book filed on 15/06/2023 (claiming that purchase invoices, copies whereof were placed at page No. 59-74 of aforesaid paper book filed on 15/06/2023 were produced before the Assessing Officer and are part of record in the files of Income Tax Department) was due to typographical error. This acceptance is because of bonafide conduct of learned Counsel for the assessee at the time of hearing on 22/06/2023 when he requested for beief adjournment of the hearing (for 30 minutes) for ascertaining the factual correctness of the claim; and clarified the matter when the hearing resumed after 30 minutes [copy of order sheet dated 22/06/2023 has already been reproduced in foregoing paragraph (A.2.1) of this order]. Moreover, shortly thereafter, the paper book filed on 15/06/2023 was replaced with fresh paper book filed on 28/06/2023 along with amended certificate. Relevant portion of aforesaid letter dated 28/06/2023 is repro....
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....ring the relevant assessment year, the appellant filed its return of income showing total income of Rs. 87,06,920/-. The case was selected for 'Complete Scrutiny'. The main reason for selection of case for scrutiny was 'Large value of case deposit during demonetization period.' Notice u/s 142(1) of the Act was issued along with the questionnaire calling for details and information. In compliance to the notices, the appellant filed pointwise replies and also filed relevant information/ documents. Books of accounts alongwith AOP agreement and bills and vouchers were also produced for examination before AO at the time of assessment proceedings. The assessment was completed by making addition of Rs. 60,500/- as unexplained cash credits and Rs. 2,18,300/- as adhoc disallowance of expenditure shown in the books of the assessee. The appellant is in appeal against the assessment order. 3. The Id. Pr. Commissioner of Income Tax (P.C.I.T) issued notice u/s 263 of the Act dated 27.01.2021 in which he has stated that "The A.O. was expected to follow the guidelines and issue specific queries to examine the source of cash deposits as well as to make relevant enquires bef....
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....ment. The tax so collected and deposited is available as a credit to the buyer. Thus, the party-wise name and purchases of liquor reflecting in TCS details are on e-filling portal of Income-tax Department. The party wise details were with the department at the time assessment proceedings as well as proceedings u/s 263 of the Act. It is further submitted that at the time of assessment proceedings, produce books of accounts along with bills and vouchers which includes purchase bills too. The second part of the grounds deals with examination of expenditure of trading and P&L account of test check basis. Your honour will appreciate that at page 1 para 2 of the assessment order clearly states that "The information/documents furnished were verified and books of account produced were examined on test check basis." Further, the Ld. AO at page 3 para 5 has discussed in detail about the expenses of the assessee shown in the trading and P&L account. He has disallowed Rs. 2,18,300/- on the ground that some of the vouchers were hand written, unsigned and unclear. 4.2. Ground no 2 and 4 states that the AO has not enquired about shop wise purchases and sales and expenses. The Ld. Pr. CIT....
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..... Sub-section (2) of sec. 271AAC of the bars levy of penalty u/s 270A of the Act. 5. A point-wise reply in response to notice u/s 263 was submitted before Ld. Pr. CIT. All the relevant facts of the case were brought to his notice. The appellant would like to submit that no comments was given by the Pr. CIT on the replies of the assessee but new grounds were given for setting aside the assessment order. Therefore, it can be safely presumed that Ld. Pr. CIT has accepted that contention of the appellant. 6. The appellant begs to submit that the Ld. AO had raised detailed queries in relation to assessee's business, cash deposits, bank statement, cash flow statement, sundry creditors and also asked to produce books of account along with bills and vouchers supporting its claim. The assessee responded by the replies filed of various dates. Cash Book, bank statement and Books of account were also filed/produced and which was cross verified. An enquiry was made by the assessing officer and the assessment order was passed. It was only if the Assessing Officer had not made any enquiry then it could be said that the order passed was erroneous. This is not a case of lack o....
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....wers under Section 263 of the Act, but only orders that are erroneous and prejudicial to the interest of the revenue." (page 711 of compilation) iii) Hon'ble Delhi High Court in the case of CIT Vs Sunbeam Auto 332 ITR 167 (Del.), has held that if there was any inquiry, even inadequate that would not by itself give occasion to the CIT to pass orders under s. 263 of the Act, merely because he has a different opinion on the matter. It is only in cases of 'lack of inquiry' that such a course of action would be open. (page 12-25 of the compilation) iv) The Hon'ble Chennai ITAT in the case of SICAL Logistics Ltd. v. Addl. CIT [2010] 127 ITD 187 held that merely because A.O. did not conduct inquiry into Books of Account in way Commissioner wanted it, it could not be treated as erroneous order. v. Narayan Tatu Rane Vs. ITO, I.T.A. No. 2690/2691/Mum/2016, dt. 06.05.2016"..........we are of the view that the said Explanation cannot be said to have over ridden the law interpreted by Hon'ble Delhi High Court, referred above. (CIT Vs. Goetze (India) Ltd (361 ITR 505)) If that be the case, then the Ld Pr. CIT can find fault with each and every asses....
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....ive application shall not be relevant." (page 26-46 of complitation) vi) M/S Arun Kumar Garg HUF vs. PCIT, ITA No. 3391/Del/2018, dt. 08.01.2019 "5.6 Although, there has been an amendment in the provisions of section 263 of the Act by which Explanation 2 has been inserted w.e.f. 1.6.2015 but the same does not give unfettered powers to the Commissioner to assume jurisdiction under section 263 to revise every order of the Assessing Officer to reexamine the issues already examined during the course of assessment proceedings." (page 47-51 of compilation) vii) Rajgul Credit Invest P. Ltd. Vs. PCIT, I.T.A. No. 2519/DEL/2019, dt. 19.09.2019 "We further note that Explanation to section 263 of the Act does not change the scope of section 263 of the Act, the Mumbai Tribunal in the case of Narayan Tatu Rane vs. ITO reported in 70 taxmann.com 227 has also held that in a case where learned Pr. CIT has not brought any material on record by making enquiries or verifications to substantiate his inference, the learned PCIT is not justified in holding that the impugned assessment order was erroneous. 5.4.1 In view of above, we note that notice u/s. 263 of the Act issued by....
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....LF Ltd 350 ITR 555 (Del). In the case of CIT vs. Max India Ltd 295 ITR 282 at page 284, Hon'ble Supreme Court has held that assessment order "cannot be treated erroneous order prejudicial to the interest of the Revenue, unless the view taken by the Income-tax Officer in unsustainable in law." (page 75-77 of compilation) Can provision of section 263 of the Act be invoked for roving and fishing enquiry or change of opinion? 9. It is humbly submitted that the order of the PCIT u/s 263 is contrary to the law as stated above, hence it is liable to be set aside. That apart, PCIT cannot initiate proceeding u/s 263 of the Act with a view to start fishing and roving inquires in the matters which had already concluded. The Ld. Pr.CIT has initiated proceedings starting a fishing and roving enquiry in the matter without bringing on record any material or evidence demonstrating that he has acted in a reasonable manner. 9.1 In case of Gabriel India Ltd.'s (supra), law on this aspect was discussed in the following manner: " From a reading of sub-section (1) of section 263, it is clear that the power of suo motu revision can be exercised by the Commissioner only ....
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.... proceedings." It is de-jure in the eyes of law. The appellant most humbly states that no such points/issue was ever raised by PCIT in the notice served upon the assessee and the assessee was not even confronted by the PCIT before passing the order dated 22.02.2022. It is violation of principle of natural justice. Before the Hon'ble Bombay High Court in this case of PCIT Vs Universal Music India Pvt. Ltd Income-tax Appeal 238 of 2018, a substantial question of law has been proposed in the Appeal: "(a) Whether on the facts, in the circumstances of the case and as per law, the Hon'ble ITAT has erred in holding that in the revision proceedings the CIT cannot travel beyond the reasons given by him for revision in the show-cause notice without appreciating that the power of revision under Section 263 of the I.T. Act is not contingent on the giving of a notice to show cause?" The Hon'ble Court has held that "9. In the case at hand, there is a finding by the Tribunal, as noted earlier, that no issue was raised by the CIT in respect of particulars of payment made to persons specified under Section 40A(2)(b) of the Act and even the show cause notice is silent a....
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....: 04121912490473 & Acknowledgement Number: 13121912692355 respectively. ii) Regarding ground/point no. 2, it is submitted that A.O. at point no. 1 of the notice dated 17/10/2019 inquired regarding business activity, the assessee vide acknowledgment no 04121912490473, stated that we are doing business of retail trading of liquor and as commodity, it comes under state excise department, hence, licence is mandatory. Without having a valid licence liquor cannot be purchased from wholesaler. Copy of AOP agreement and copies for purchase bills were produced before the Ld. AO at the time of assessment proceedings. iii) Regarding ground/point no. 3, the Ld A.O. raised the query on point no. 12. of notice dated 17/10/2019 and notice dated 12/12/2019 of above referred notice vide regarding Capital introduction & the was complied with acknowledgment no 04121912490473 our above referred reply & A.O. also verified the same from Books of accounts produced vide Acknowledgement Number: 13121912692355. same iv) Regarding ground/point no. 4, it is stated that these expenses were verified from Books of accounts & bills & vouchers produced vide Acknowledgement Number: 131219....
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....eported in 332 ITR 167 (Del) 4. Copy of judgment of Hon'ble Income tax Appellate Tribunal, Mumbai Bench, in the case of Shri Narayan Tatu Rane vs. ITO reported in 70 Taxmann 227 (Mum) 5. Copy of judgment of Hon'ble Income tax Appellate Tribunal, Delhi Bench, in the case of M/s Arun Kumar Garg vs. Pr.CIT ITA no 3391/Del/2018 6. Copy of judgment of Hon'ble Income tax Appellate Tribunal, Delhi Bench, in the case of Rajgul Credit Invest P. Ltd vs Pr. CIT, ITA No.2519/Del/2019 7. Copy of judgment of Hon'ble Allahabad High Court in the case of J.P. Srivastava & sons (Kanpur) Ltd. vs CIT reported in 111 ITR 326 (All) 8. Copy of judgment of Hon'ble Allahabad High Court in the case of CIT vs. Goyal Private Family Specific Trust reported in 171 ITR 698 (All) 9. Copy of judgment of Hon'ble Allahabad High Court in the case of CIT vs. Mahendra Kumar Bansal reported in 297 ITR 99 (All) 10. Copy of judgment of Hon'ble Supreme Court in the case of CIT (Central) vs. Max India Ltd reported in 295 ITR 282 (SC) 11. Copy of judgment of Hon'ble Bombay High Court in case of CIT vs. Gabriel India Ltd reported in 203 ITR108 (Bo....
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....electronically in 'E-Proceeding' facility through your account in 'e-filing' website of Income Tax Department. d) Para(s) (a) to (c) are applicable if you have an account in e-filing website of Income Tax Department. Till such an account is created by you, assessment proceedings shall be carried out either through your e-mail account or manually (if e-mail is not available). e) In cases where order has to be passed under section 153A/153C of the Income Tax Act, 1961 read with section 143(3), assessment proceedings would be conducted manually." (ii) Copy of reply of assessee filed in response to aforesaid notice dated 17/10/2019 (Sl. No. 6 of aforesaid paper book). However, printouts of PDF attachments as per Sl.No. 2, 3 and 4 below were not provided from the assessee's side in the course of appellate proceedings in ITAT. 1. Enclosuresofreply.pdf 2. BOB2017.pdf 3. Denabank.pdf 4. Ledgers.pdf "In response to your queries, I would like to submit as under: 1. That our business is that of retail trading of liquor at various outlets of district Sitapur, Lucknow and Lakhimpur-Kheri. 2. That as required....
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....had no intention to provide printouts of the aforesaid pdf files in the course of appellate proceedings in Income Tax Appellate Tribunal. (C) As referred to in foregoing paragraph (A.1) of this order, the learned Pr. CIT has passed the aforesaid impugned revisionary order dated 22/02/2022 holding that the Assessing Officer has passed the assessment order without enquiries, accepting submissions of the assessee on the following points: i) No enquiry made by the AO regarding genuineness of the source of cash deposit of Rs. 18,00,000/- on 10.11.2016 in Bank of Baroda Account and Rs. 14,86,500/- from 08.11.2016 to 17.11.2016 in Dena Bank account during demonetization period. ii) AO did not enquire about the details of license issued to him for the trading of liquor. iii) During the year, there was addition to member's capital account amounting Rs. 79.10 lakhs. AO did not verify the source, genuineness, creditworthiness of the partners as well as the mode of payment. iv) There were major expenses like purchases, processing fees, carriage onwards and other expenses, which were not examined by the AO neither with regard to genuineness of the expe....
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....e's aforesaid replies dated 23/10/2019 and 13/12/2019. However, we find that the assessee has not provided printout of PDF attachments of assessee's aforesaid replies dated 23/10/2019 and 13/12/2019. Therefore, in view of foregoing paragraph (B.3) of this order, we infer that the assessee has failed to substantiate that the assessee had filed necessary details on this point and that the Assessing Officer had carried out necessary inquiries. Regarding aforesaid Sl.No. (iv), it has been claimed by learned Counsel for the assessee that this point was complied with through assessee's reply dated 13/12/2019. However, on perusal of records, we find that the assessee has not provided printouts of PDF attachments submitted along with aforesaid reply dated 13/12/2019. Therefore, in view of foregoing paragraph (B.3) of this order, we hold that the assessee has failed to prove that the necessary details were filed by the assessee before the Assessing Officer and that the Assessing Officer has completed assessment after carrying out necessary verification. As regards aforesaid Sl.No. (v), it has been submitted by the learned Counsel for the assessee in aforesaid written submissions dated 21/06....
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.... ........... Explanation 2.-For the purposes of this section, it is hereby declared that an order passed by the Assessing Officer 3[or the Transfer Pricing Officer, as the case may be,] shall be deemed to be erroneous in so far as it is prejudicial to the interests of the revenue, if, in the opinion of the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner,- (a) the order is passed without making inquiries or verification which should have been made; (b) the order is passed allowing any relief without inquiring into the claim; (c) the order has not been made in accordance with any order, direction or instruction issued by the Board under section 119; or (d) the order has not been passed in accordance with any decision which is prejudicial to the assessee, rendered by the jurisdictional High Court or Supreme Court in the case of the assessee or any other person. (C.2.1) It may be added here that aforesaid Explanation (2) to Section 263(1) has been inserted by Finance Act, 2015 with effect from 01/06/2015. The relevant assessment year of the present appeal before us is 2017-18. The assessmen....
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....g HUF vs. Pr. CIT (supra), the decision was based on firstly that the provisions of section 263 do not give unfettered powers to the Commissioner to assume jurisdiction u/s 263 to revise every order of the Assessing Officer to re-examine the issues during the course of assessment proceedings; and secondly, that the assessment year being 2014-15 in that case, Explanation (2) to section 263(1) of the IT Act, brought into effect from 01/06/2015, was not applicable. The present case before us is distinguishable, as we have already held in the foregoing paragraph (C.1) that the assessee has failed to establish that the Assessing Officer has made necessary enquiries and that the assessee has filed necessary materials on this point. Moreover, in the foregoing paragraph (C.2.1) of this order, we have already observed that there is no doubt about applicability of Explanation (2) to section 263(1) of the IT Act, assessment year being 2017-18 the assessment order as well as the impugned revisionary order having been passed after aforesaid date of 01/06/2015. In the case of Rajgul Credit Invest P. Ltd. vs. Pr. CIT (supra), in paragraph 5.4 of the order the ITAT held that notice u/s 263 of the ....
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.... the case of Tara Devi Aggarwal vs. CIT [1973] 88 ITR 323 (SC) that where a stereotype order is passed, which simply accepts what the assessee has said in the return of income and fails to make enquiries which are called for in the circumstances of the case, the Commissioner is justified in holding that the order is erroneous and prejudicial to the interests of the Revenue. Furthermore, in the case of CIT vs. Emery Store Mfg. Co. [1995] 213 ITR 843 (Raj), it was held by Hon'ble High Court that simply because the facts have been disclosed by the assessee, it does not give immunity from revisionary jurisdiction of the CIT. It was also held by Hon'ble High Court that allowing certain deductions without proving the claim or without proper verification or ignorance of the provisions of law are the various instances on the basis of which the order of Assessing Officer could be said right in revisionary jurisdiction. In the case of Thalibai F. Jain vs. Income Tax Officer [1975] 101 ITR 1 (Kar), it was held by Hon'ble High Court that assessments made in undue haste and without an enquiry are prejudicial to the interest of the Revenue and what is prejudicial to the interest of R....
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....elevant aspects of a particular point would certainly be erroneous and such decision in favour of the assessee without such consideration would be prejudicial to the interest of Revenue so as to empowering Commissioner to exercise his revisional power u/s 263 of the IT Act. It was held by Hon'ble Delhi High Court in the case of Duggal and Co. vs. CIT [1996] 220 ITR 456 that the Assessing Officer is not only an adjudicator but also an investigator; that he cannot remain passive in the case of a return which is apparently in order but calls for further enquiry; that it is incumbent upon the Assessing Officer to further investigate the facts when circumstances would make such enquiry prudent and that the order of the Assessing Officer becomes erroneous because such an enquiry has not been made and not because there is nothing wrong on the order if all the facts stated therein are assumed to be correct. In the case of CIT vs. M. M. Khambhatwala [1992] 198 ITR 144 (Guj), Hon'ble Gujarat High Court held that the CIT can exercise the power of revision even in a case where the issue is debatable. (D.1.1) Although the assessee has placed reliance on the case of Malabar Industrial Co....
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....s further held by the Hon'ble Court that: "The Commissioner may consider an order to be 'erroneous' for the purpose of section 263 even if error of law may not be apparent on the face of the order. The Commissioner may consider an order of the assessing authority to be erroneous not only if it contains some apparent error of reason or of law or of fact on the face of it but also because it is stereotype order which simply accepts what the assessee has stated in his report and fails to make inquiry which are called for in circumstances of the case." (ii) Further in the case of Ram Pyari Deri Saraogi v/s CIT (1968) 67 ITR 184, the Hon'ble Apex Court while examining the question of revisional power of the CIT under the old Act held that," where assessment was completed by the ITO with under haste, without holding necessary enquiry, it is sufficient to hold that the assessment order is erroneous." (iii) In the case of Smt Tara Devi Agarwal v/s CIT(1973) 88 ITR 323(SC), it was held by the Hon'ble Apex Court that, " even where income has not been earned and is not assessable merely because the assessee wants it to be assessed in his or her e....
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...., there are provisions under Income Tax Act through which such shortcomings or deficiencies or demerits can be removed, in given circumstances either by the Assessing Officer himself (such as u/s. 154 or u/s. 147 of I.T. Act) or by higher authorities in their revisionary jurisdiction u/s. 263 or u/s. 264 of I.T. Act. Further, there are appellate forums such as Commissioner of Income Tax (Appeals), Joint/Additional Commissioner of Income Tax (Appeals), Income Tax Appellate Tribunal, High Court and Hon'ble Supreme Court where also the aforesaid shortcomings or deficiencies or demerits can be removed. The aforesaid shortcomings or deficiencies or demerits can arise due to many reasons, some of which may be workload pressure, limitation date pressure, lack of experience/knowledge, non-application of mind, etc. etc. Considering the foregoing, the order of Assessing Officer is not necessarily always final. The order passed by Assessing Officer is not sacrosanct. In case of doubt, that view is to be preferred which favours removal of shortcomings, deficiencies or demerits in the order of the Assessing Officer, and that view should be rejected which treats the order passed by the Asses....
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....k from 1.4.2016 to 8.11.2016 Total Cash deposits in Bank from 9.11.2016 to 31.12.2016 along with denomination of old 500 & 1000 Rs. Notes Total Cash sales/services in F.Y. 2015-16 Total Cash sales/services from 01.04.2015 to 8.11.2015 Total Cash sales/services from 9.11.2015 to 31.12.2015 D Total Cash sales/services in F.Y. 2016-17 Total Cash sales/services from 1.4.2016 to 8.11.2016. Total Cash sales/services from 9.11.2016 to 31.12.2016 Opening Cash Cash Sales Cash Month wise in hand. Apr, 2015 May,2015 June,2015 July 2015 Aug.2015 Sep,2015 Oct.,2015 Nov. 8.11.15 Month wise Apr, 2016 May, 2016 June,2016 July 2016 Aug. 2016 Sep. 2016 Oct. 2016 deposited Bank Cash in Withdrawal from Bank Closing Cash on hand Opening Cash Cash Sales Cash in hand ITBAA deposited Bank Cash in Withdrawal Closing Cash on hand from Bank Nov. till 8.11.16 5. Please produce your cash book as evidence for the above claims. 6. Please furnish the cash flow statement for the period under consideration, 7. Please furnish the details of unsecured loans ....
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....sub-section (1) of Section 142 of the Income Tax Act, 1961 In connection with the assessment for the assessment year 2017-18 you are required to: a) Furnish or cause to be furnished on or before 13/12/2019 at 06:42 PM the accounts and documents specified overleaf. b) Furnish and verified in the prescribed manner under Rule 14 of IT. Rules 1962 the information called for as per annexure and on the points or matters specified therein on or before 13/12/2019 at 06:42 PM. c) The above mentioned evidence/information is to be furnished online electronically in 'E-Proceeding facility through your account in 'e-filing website of Income Tax Department d) Para(s) (a) to (c) are applicable if you have an account in e-filing website of Income Tax Department. Till such an account is created by you, assessment proceedings shall be carried out either through your e-mail account or manually (if e-mail is not available) X DEF a) In cases where order has to be passed under section 153A153C of the Income Tax Act, 1961 read with section 143(3), assessment proceedings would be conducted manually. Strud Yours faithfully. RAJA RAJESHWAR NATH SHUKLA ACI SITA....