329 ITR 289 (Del) CIT v. DLF Power Ltd.

MR ASHOK KHIMRAJ JAIN,NANDUBAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, NASHIK, NASHIK

The appeal of the appellant is ALLOWED

Bench: Shri S S Viswanethra Ravi & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No.154/Pun/2023 निर्धारण वर्ा / Assessment Year : 2015-2016 Ashok Khimraj Jain, Vimal Emporium, Tilak Rd., Nandurbar – 425 412 Pan : Ahppj6362E . . . . . . . अपीलार्थी / Appellant बनाम / V/S. Pr. Commissioner Of Income Tax-1, Nashik . . . . . . . प्रत्यर्थी / Respondent द्वारा / Appearances Assessee By : Shri Hari Krishan Revenue By : Shri J.P. Chandraker सुनवाई की तारीख / Date Of Conclusive Hearing : 26/05/2023 घोषणा की तारीख / Date Of Pronouncement : 26/05/2023 आदेश / Order Per G. D. Padmahshali, Am; By The Present Appeal, The Assessee Assailed The Revisionary Order Of Pr. Commissioner Of Income Tax-1, Nashik [For Short ‘Pcit’] Dt. 18/03/2021 Passed U/S 263 Of The Income-Tax Act, 1961 [For Short ‘The Act’], Which Ascended Out Of Assessment Order Dt. 17/11/2017 Passed U/S 143(3) By The Asstt. Commissioner Of Income Tax, Circle Dhule [For Short ‘Ao’] For The Assessment Year [For Short ‘Ay’] 2015-16

…facts and circumstances, we see hardly any reason to deviate from the settled legal proposition laid by the Hon'ble Jurisdictional High Court of Bombay in ‘CIT Vs Gabriel India Ltd.’ Reported in 203 ITR 108 and ‘CIT Vs Design Automobile Engineers’ reported in 323 ITR 632 (Bom), and Hon’ble Delhi High Court in ‘CIT Vs Sunbeam Auto Ltd.’ reported in 332 ITR 167 (Del.) in holding that in the absence of any failure on the part of Assessing Officer in making due inquiry(ies), the first limb i.e. an assessment being erroneous fails therefore the very basis of jurisdiction of the Ld. PCIT u/s 263 of the Act. 9. Before…