TaxTMI 
TaxTMI 
2024 (7) TMI 1713
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....urisdiction u/s 263 in respect deduction u/s 80-IC on the ground that no information was called for by the Id AO and in absence of which the deduction should have been disallowed. 2. The Id CIT erred in law and on facts is not appreciating that proper enquiries were made by the Id AO during assessment proceedings in respect of deduction u/s 80-IC and the Id AO has adopted a permissible course of law. 3. The Id CIT erred in law and on facts in holding that the deduction should have been disallowed when the same has been allowed in the past with no change in facts and no material has been brought on record to show that the deduction is not allowable. 4. The Id CIT erred in law and on facts in issuing notice u/s 263 ....
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.... The Id CIT erred in law and on facts in seeking to revise the Assessment Order, in the proceedings u/s 263 on entirely new and contradictory ground than the one raised in show cause notice u/s 263. The Order u/s 263 being unjustified in law may kindly be cancelled. 9. The appellant craves leave to add, alter, modify or substitute any ground of appeal at the time of hearing." 2. Both the learned representatives invited our attention to the PCIT's impugned revision discussion terming the Assessing Officer's 143(3) regular assessment herein dated 3.12.2016 as an erroneous one causing prejudice to interest of the Revenue as under :- "06. I have duly considered the explanation offered by the assessee. On perusal of submissi....
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....a different place. The Assessing Officer has reported that the assessee has submitted notarized rent agreement, copy of registration certificate from District Industrial Centre, copy of approval from HP forest Department and certificate from Directorate of Fire Services Himachal Pradesh. However, the assessee has failed to submit proof like electricity bills, telephone bills, water supply bills etc. which can conclusively prove that manufacturing activity has actually taken place at Himachal Pradesh as these components like electricity and water are used in manufacturing process carried out by the assessee. During the course of assessment proceedings, no information was called for by the Assessing Officer about the same. In absence of any d....
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....the impugned revision directions thereby holding the Assessing Officer not to have carried out the necessary inquiry(ies) or verification(s) in light of section 263 explanation (2)(a) of the Act. Ms. Nagpal next invited our attention to assessee's Form No. 10CCB column 7 at page No. 46 of its paper book, wherein the audit report had claimed section 80IC(2)(b)(ii) deduction only. Her case in light of said audit report is that learned PCIT has rightly exercised his jurisdiction vested u/s. 263 of the Act whilst issuing the foregoing directions. 5. Faced with this situation, Ms. Khare submitted in rejoinder that assessee's duly satisfies all the relevant conditions u/s. 80IC(2)(a)(ii) of the Act in the impugned assessment year. 6. We hav....