2025 (12) TMI 402

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.... for which the assessee filed the condemnation petition along with the affidavit of the Charter Accountant of the assessee Shri Gaurav Aggarwal. 03. We find from the perusal of the said affidavit that the copy of the revisionary order under section 263 of the Income-tax Act, 1961 (the Act) was handed over to him on 15.02020 for filing the appeal, however,the same was misplaced by him which was Covid period and it is only on 25.10.2024 when the assessee enquired from him about the status of the appeal, the counsel of the assessee told that the appeal has not been filed and thereafter, the documents were located and the appeal was filed within a delay of 1595 days. It was submitted before us by the counsel of the assessee that the assessee....

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....iving an opportunity of hearing to the assessee. 07. The ld. Counsel for the assessee vehemently submitted before us that the revisionary jurisdiction has been invoked by the Learned PCIT merely on the proposal moved by the Learned AO and the ld. PCIT without having recording any satisfaction passed order under Section 263 of the Act. The ld. PCIT merely relied on the information moved in the proposal and simply revised the order thereafter, without giving his own finding on the issue as to how the assessment framed is erroneous and prejudicial to the interest of the revenue. The counsel submitted that the order passed by the PCIT on the proposal of the AO is invalid and may be quashed. The assessee, in defense of his argument, relied on....