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| The Tax Publishers2020 TaxPub(DT) 4258 (Guj-HC) INCOME TAX ACT, 1961
Section 263 Section 260A
Finding of fact recorded by ITAT, after due consideration of relevant aspects of the matter, was that assessment order was framed under section 143(3) after due verification by AO and, therefore, question proposed by Pr.CIT that whether Tribunal was correct to hold that AO conducted necessary and sufficient enquiries could not be termed as the substantial queston of law and order of AO was, therefore, rightly treated as not erroneous and prejudicial by ITAT.
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Appeal (High Court) - Maintainability - No substantial question of law - Tribunal after due consideration of the matter quashed order passed under section 263 holding that due enquiry was made by AO
Pr. CIT challenged order passed by ITAT contending that Tribunal was not correct to hold that AO conducted necessary and sufficient enquiries which should have been made warranted on facts of the case in respect of each of the issues raised in impugned order under section 263.Held: Finding of fact recorded by ITAT, after due consideration of relevant aspects of the matter, was that assessment order was framed under section 143(3) after due verification by AO and, therefore, order of AO could not be said to be erroneous and prejudicial to the interest of revenue. Tribunal has also recorded a finding that assessee had furnished complete details of parties and the accounts. Tribunal, in support of its reasonings and conclusions, placed reliance on various decisions of the Supreme Court and High Courts. In the overall view of the matter, reasonings assigned by ITAT while allowing appeal of assessee was correct and questions proposed by Pr.CIT could not be termed as the substantial queston of law. Accordingly, appeal was dismissed.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2010-11
IN THE GUJARAT HIGH COURT
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