M/S. REWARD CONSTRUCTIONS PVT.LTD,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, PUNE

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ITA 1224/PUN/2017Status: DisposedITAT Pune06 July 2021AY 2012-1311 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the CIT failed to demonstrate how the AO's acceptance of the assessee's claims led to an erroneous order prejudicial to revenue. The CIT's assertion that the AO had not verified issues was insufficient to invoke Section 263.

What were the facts?

The CIT invoked Section 263, stating the AO's assessment order was erroneous and prejudicial to revenue as it lacked proper inquiry into five specific issues. The assessee contended that the AO had indeed conducted inquiries and received satisfactory replies on all points.

What were the issues?

Whether the CIT was justified in invoking Section 263 of the Income-tax Act, 1961, when the Assessing Officer had conducted inquiries and accepted the assessee's replies without making additions.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH, ‘A’ PUNE – VIRTUAL COURT

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY

For Respondent: Shri Shivraj B. Morey

आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune M/s. Reward Constructions Pvt. Ltd. Date 1. Draft dictated on 05-07-2021 Sr.PS 2. Draft placed before author 06-07-2021 Sr.PS 3. Draft proposed & placed before JM the second member 4. Draft discussed/approved by JM Second Member. 5. Approved Draft comes to the Sr.PS Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

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