2025 (8) TMI 132

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sh B Chaudhari, CFO For the Respondent : Shri Rignesh Das, CIT. DR ORDER PER SMT. ANNAPURNA GUPTA, AM: The present appeal has been filed by the assessee against the order of the Ld. Principal Commissioner of Income Tax, Ahmedabad-3, (hereinafter referred to as "PCIT"), dated 08.03.2024 passed under Section 263 of the Income Tax Act, 1961 (hereinafter referred to as the "Act") and relat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the assessee by the orders of the ITAT. The order of the Ld.PCIT reveals that despite noting so she still held the assessment order erroneous since she noted that Revenue had not accepted the orders of the ITAT and had preferred appeal against those orders before the Hon'ble High Court. 4. Considering the admitted fact that the issues identified by the Ld.PCIT on which she found the assessme....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of NPA amounting to Rs.6,86,73,630/- which was added back while computing the income of the assessee under the normal provisions of the Act. ii. Disallowance of expenses u/s.14A of the Act amounting to Rs.31,30,987/- made by the AO while computing income as per normal provisions of the Act. 5. The Ld. PCIT at para 4 and 4.1 of her order categorically records the fact that with respect....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... had found the assessment order be erroneous were actually not so, since the ITAT had decided these issues in favour of the assessee. Being aware of the said fact and still holding assessment order erroneous merely for the reason that the department had not accepted the orders of the ITAT is nothing but a gross disregard and dis-respect of judicial hierarchy. It is a gross misuse of the power by t....