2009 (7) TMI 61

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....of the court was delivered by F. M. IBRAHIM KALIFULLA, J. - The revenue has come forward with this appeal raising the following substantial question of law:- "Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the order of the Commissioner of Income Tax under section 263 was not valid on the ground that the Assessing Officer had taken ....

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....e assessment was taken up for scrutiny as a survey related assessment.  Be that as it may, when the assessee's return of income dated 28.11.2003 was analysed, a notice under Section 143 (2) was issued on 16.12.2003. The assessee's representative was heard. A sum of Rs.2,94,16,923/- was reflected in the accounts by way of credit entries under the caption 'sundry creditors'. At that point of ti....

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.... Income-tax, by invoking his revisional power under Section 263 of the Income-tax Act, suo moto took up the order of assessment dated 28.3.2006 for consideration and by his order dated 27.3.2008, held that the assessing authority, shall call for further records, examine the same and pass a fresh order of assessment. Aggrieved against the same, the assessee went before the Tribunal. By the time the....

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....ady been reopened by the same assessing officer and reassessment orders passed, which was before the CIT at the time of passing the impugned order so there cannot be double taxation, when the assessing officer has already reopened the assessment of the Company and taxed the impugned amounts, therefore action of the CIT is unjustified and uncalled for and not proper and as such pleaded for setting ....