CIT v. Leisure Wear Exports Ltd.

341 ITR 166High Court2012#1232 most cited

What is CIT v. Leisure Wear Exports Ltd. authority for?

An Assessing Officer's order is deemed prejudicial to the interests of the revenue under Section 263 if, due to its erroneous nature, the revenue suffers a loss of lawfully payable tax. This principle applies where the Assessing Officer fails to conduct proper enquiry.

93

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2014 to 2026.

Also referred to as

CIT v. Leisure Wear Exports Ltd. · 341 ITR 166 · Section 263 · revisionary power · erroneous order · prejudicial to interest of revenue · lack of enquiry · inadequate enquiry · loss of tax · Commissioner's jurisdiction · Delhi High Court

Also reported as

46 DTR 97

Sections most often in play

Section 143(3)Section 263 Section 147 Section 10(37)Section 145A(b)Section 148 Section 151 Section 56(2)(viii)

Issues it is cited on

section 141 section 282a(1)section 194la section 145a(b)section 145b section 45(5)section 57(iv)section 56(2)(viii)inadequate enquiry doctrine of merger lack of enquiry section 263(1)

Judgments citing CIT v. Leisure Wear Exports Ltd.

AMAZON SMART COMMERCE SOLUTIONS PRIVATE LIMITED,DELHI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, DELHI-1, DELHI

ITA 3533/DEL/2025[2021-22]Status: DisposedITAT Delhi18 Mar 2026AY 2021-22

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

Section 143(1)Section 143(3)Section 263Section 40A(2)

…essment order and, accordingly, the jurisdiction assumed under section 263 was quashed: -CIT v. DLF Ltd.: 350 ITR 555 (Del.) -CIT v. International Travel House Ltd.: 344 ITR 554 (Del.) -Gulmohar Finance Ltd.: 170 Taxman 483 (Del.) -CIT v. Leisurewear Exports: 341 ITR 166 (Del.) -CIT v. Hero Auto Ltd.: 343 ITR 342 (Del.) -CIT v. Escorts Ltd.: 338 ITR 435 (Del.) 151 For the aforesaid reason, too, it is respectfully submitted that the revisionary proceedings initiated under section 263 of the Act is wholly without jurisdiction since the view taken by the assessing officer is, in any case, a plausible view in law, wh…

MICROTEK INFRASTRUTURES PRIVATE LIMITED,DELHI vs. PCIT, NEW DELHI

In the result, the appeal of the assessee is dismissed

ITA 3112/DEL/2025[2020-21]Status: DisposedITAT Delhi11 Mar 2026AY 2020-21

Bench: Shri Anubhav Sharma& Shri Amitabh Shukla[Assessment Year:2020-21]

Section 133(6)Section 142(1)Section 143(3)Section 263Section 37(1)Section 68

…t for the lack of enquiry by the assessing officer, the Commissioner of Income Tax is justified in Page 5 of 15 assuming the jurisdiction u/s 263 of the Income Tax Act and cancelling the assessment order. In the case of CIT vs Leisure Wear Exports Ltd. (2012) 341 ITR 166 (Del), the Hon’ble High Court has held that “If due to an erroneous order of the AO the revenue is losing tax lawfully payable by a person, it would be certainly prejudicial to the interest of revenue”. In the case of Malabar Industrial Co. Ltd. Vs CIT [2000] 109 Taxman 66 (SC)/[2000] 243 ITR 83 (SC)/[2000] 159 CTR 1 (SC), the Hon’ble Supreme Cou…

SH. RANDHIR SINGH,SIRSA vs. PCIT ROHTAK, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

ITA 494/CHANDI/2024[2013-14]Status: DisposedITAT Chandigarh24 Feb 2026AY 2013-14

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 143(3)Section 263

…RY WHICH IS DISTINCT FROM INADEQUATE ENQUIRY i) 384 ITR 200 (SC) CIT vs. Amitabh Bachchan. ii) 357 ITR 388 (Del) DIT vs. Jyoti Foundation iii) 332 ITR 167 (Del) CIT vs. Sunbeam Auto Ltd. iv) 343 ITR 329 (Del) ITO vs. D.G. Housing Projects Ltd. at pages 339 v) 341 ITR 166 (Del) CIT vs. Leisure Wear Exports Ltd. vi) 212 Taxman 184 (Del) CIT vs. Vodafone Essar South Ltd. vii) 341 ITR 180 (Del) CIT vs. Hindustan Marketing and Advertising Co. Ltd. viii) 360 ITR 44 (Del) CIT vs. New Delhi Television Ltd. ix) 236 CTR 476 (Del), CIT vs. Vikas Polymers “10. As regards the scope and ambit of the expression "erroneous", a D…

SURJEET SINGH,SIRSA vs. PCIT, ROHTAK, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

ITA 488/CHANDI/2024[2018-19]Status: DisposedITAT Chandigarh24 Feb 2026AY 2018-19

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 143(3)Section 263

…RY WHICH IS DISTINCT FROM INADEQUATE ENQUIRY i) 384 ITR 200 (SC) CIT vs. Amitabh Bachchan. ii) 357 ITR 388 (Del) DIT vs. Jyoti Foundation iii) 332 ITR 167 (Del) CIT vs. Sunbeam Auto Ltd. iv) 343 ITR 329 (Del) ITO vs. D.G. Housing Projects Ltd. at pages 339 v) 341 ITR 166 (Del) CIT vs. Leisure Wear Exports Ltd. vi) 212 Taxman 184 (Del) CIT vs. Vodafone Essar South Ltd. vii) 341 ITR 180 (Del) CIT vs. Hindustan Marketing and Advertising Co. Ltd. viii) 360 ITR 44 (Del) CIT vs. New Delhi Television Ltd. ix) 236 CTR 476 (Del), CIT vs. Vikas Polymers “10. As regards the scope and ambit of the expression "erroneous", a D…

SH. PARAMJEET SINGH,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

ITA 290/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh24 Feb 2026AY 2018-19

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 143(3)Section 263

…RY WHICH IS DISTINCT FROM INADEQUATE ENQUIRY i) 384 ITR 200 (SC) CIT vs. Amitabh Bachchan. ii) 357 ITR 388 (Del) DIT vs. Jyoti Foundation iii) 332 ITR 167 (Del) CIT vs. Sunbeam Auto Ltd. iv) 343 ITR 329 (Del) ITO vs. D.G. Housing Projects Ltd. at pages 339 v) 341 ITR 166 (Del) CIT vs. Leisure Wear Exports Ltd. vi) 212 Taxman 184 (Del) CIT vs. Vodafone Essar South Ltd. vii) 341 ITR 180 (Del) CIT vs. Hindustan Marketing and Advertising Co. Ltd. viii) 360 ITR 44 (Del) CIT vs. New Delhi Television Ltd. ix) 236 CTR 476 (Del), CIT vs. Vikas Polymers “10. As regards the scope and ambit of the expression "erroneous", a D…

DHUNI CHAND HUF,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

ITA 289/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh24 Feb 2026AY 2018-19

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 143(3)Section 263

…RY WHICH IS DISTINCT FROM INADEQUATE ENQUIRY i) 384 ITR 200 (SC) CIT vs. Amitabh Bachchan. ii) 357 ITR 388 (Del) DIT vs. Jyoti Foundation iii) 332 ITR 167 (Del) CIT vs. Sunbeam Auto Ltd. iv) 343 ITR 329 (Del) ITO vs. D.G. Housing Projects Ltd. at pages 339 v) 341 ITR 166 (Del) CIT vs. Leisure Wear Exports Ltd. vi) 212 Taxman 184 (Del) CIT vs. Vodafone Essar South Ltd. vii) 341 ITR 180 (Del) CIT vs. Hindustan Marketing and Advertising Co. Ltd. viii) 360 ITR 44 (Del) CIT vs. New Delhi Television Ltd. ix) 236 CTR 476 (Del), CIT vs. Vikas Polymers “10. As regards the scope and ambit of the expression "erroneous", a D…

SH. KASHMIR SINGH SANDHA,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

ITA 288/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh24 Feb 2026AY 2018-19

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 143(3)Section 263

…RY WHICH IS DISTINCT FROM INADEQUATE ENQUIRY i) 384 ITR 200 (SC) CIT vs. Amitabh Bachchan. ii) 357 ITR 388 (Del) DIT vs. Jyoti Foundation iii) 332 ITR 167 (Del) CIT vs. Sunbeam Auto Ltd. iv) 343 ITR 329 (Del) ITO vs. D.G. Housing Projects Ltd. at pages 339 v) 341 ITR 166 (Del) CIT vs. Leisure Wear Exports Ltd. vi) 212 Taxman 184 (Del) CIT vs. Vodafone Essar South Ltd. vii) 341 ITR 180 (Del) CIT vs. Hindustan Marketing and Advertising Co. Ltd. viii) 360 ITR 44 (Del) CIT vs. New Delhi Television Ltd. ix) 236 CTR 476 (Del), CIT vs. Vikas Polymers “10. As regards the scope and ambit of the expression "erroneous", a D…

M/S GANESH DASS HUF,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

ITA 287/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh24 Feb 2026AY 2018-19

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 143(3)Section 263

…RY WHICH IS DISTINCT FROM INADEQUATE ENQUIRY i) 384 ITR 200 (SC) CIT vs. Amitabh Bachchan. ii) 357 ITR 388 (Del) DIT vs. Jyoti Foundation iii) 332 ITR 167 (Del) CIT vs. Sunbeam Auto Ltd. iv) 343 ITR 329 (Del) ITO vs. D.G. Housing Projects Ltd. at pages 339 v) 341 ITR 166 (Del) CIT vs. Leisure Wear Exports Ltd. vi) 212 Taxman 184 (Del) CIT vs. Vodafone Essar South Ltd. vii) 341 ITR 180 (Del) CIT vs. Hindustan Marketing and Advertising Co. Ltd. viii) 360 ITR 44 (Del) CIT vs. New Delhi Television Ltd. ix) 236 CTR 476 (Del), CIT vs. Vikas Polymers “10. As regards the scope and ambit of the expression "erroneous", a D…

SH. ARVAIL SINGH,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

ITA 286/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh24 Feb 2026AY 2018-19

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 143(3)Section 263

…RY WHICH IS DISTINCT FROM INADEQUATE ENQUIRY i) 384 ITR 200 (SC) CIT vs. Amitabh Bachchan. ii) 357 ITR 388 (Del) DIT vs. Jyoti Foundation iii) 332 ITR 167 (Del) CIT vs. Sunbeam Auto Ltd. iv) 343 ITR 329 (Del) ITO vs. D.G. Housing Projects Ltd. at pages 339 v) 341 ITR 166 (Del) CIT vs. Leisure Wear Exports Ltd. vi) 212 Taxman 184 (Del) CIT vs. Vodafone Essar South Ltd. vii) 341 ITR 180 (Del) CIT vs. Hindustan Marketing and Advertising Co. Ltd. viii) 360 ITR 44 (Del) CIT vs. New Delhi Television Ltd. ix) 236 CTR 476 (Del), CIT vs. Vikas Polymers “10. As regards the scope and ambit of the expression "erroneous", a D…

BANSILAL RAMNATH AGARWAL CHARITABLE TRUST,PUNE vs. CIT (EXEMPTION), PUNE

In the result, the appeal filed by the assessee is allowed

ITA 1357/PUN/2025[2020-21]Status: DisposedITAT Pune28 Jan 2026AY 2020-21

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2020-21 Bansilal Ramnath Agarwal Charitable Trust Cit (Exemption), 251, Budhwar Peth, City Post Chowk, Vs. Pune Pune – 411002 Pan: Aaatb4383K (Appellant) (Respondent) Assessee By : Shri Kishor B Phadke Department By : Shri Amol Khairnar, Cit-Dr Date Of Hearing : 11-12-2025 Date Of Pronouncement : 28-01-2026 O R D E R Per R.K. Panda, V.P:

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR

Section 11Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 2(15)Section 263

…t order, that would not, by itself, lead to conclusion that the order of the Assessing Officer called for interference and revision. 29. Referring to the decision of Hon’ble Delhi High Court in the case of CIT vs. Leisure Wear Exports Ltd. reported in (2012) 341 ITR 166 (Del), he submitted that the Hon’ble High Court in the said decision has held that where assessment order has been passed by the Assessing Officer after taking into account assessee's submissions and documents furnished by him and no material whatsoever has been brought on record by Commissioner which showed that there was any discrepancy or fals…

M/S UNION BANK OF INDIA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CRICLE -LTU 2, MUMBAI

In the result, appeal of the assessee is allowed

ITA 2956/MUM/2024[2019-20]Status: DisposedITAT Mumbai20 Jun 2025AY 2019-20

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri C. Naresh, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R

Section 115JSection 143(3)Section 14ASection 263

…fficer the Revenue is losing tax lawfully payable by a person, it would be certainly prejudicial to the interests of the Revenue. Reference is made to the decision of Delhi High Court in CIT v. Leisure Wear Exports Ltd. [2011] 11 taxmann.com 54/202 Taxman 130/341 ITR 166 (Delhi). 31. In the present case, the suo moto revisional proceeding was initiated on the basis of a proposal under section 263 of the Act dated 22.03.2021 submitted by the Assistant Commissioner of Income Tax which was duly forwarded by the Joint Commissioner of Income Tax. On the basis of the said proposal, the notice of hearing under section 2…

VENETIAN LDF PROJECTS LLP,GURGAON vs. ACIT CIRCLE-4(1), GURGAON

In the result, grounds raised by the assessee are dismissed

ITA 3533/DEL/2019[2014-15]Status: DisposedITAT Delhi01 May 2025AY 2014-15

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

Section 143(1)Section 143(3)Section 263Section 40A(2)

…order and, accordingly, the jurisdiction assumed under section 263 was quashed: - CIT v. DLF Ltd.: 350 ITR 555 (Del.) - CIT v. International Travel House Ltd.: 344 ITR 554 (Del.) - Gulmohar Finance Ltd.: 170 Taxman 483 (Del.) 41 - CIT v. Leisurewear Exports: 341 ITR 166 (Del.) - CIT v. Hero Auto Ltd.: 343 ITR 342 (Del.) - CIT v. Escorts Ltd.: 338 ITR 435 (Del.) 151 For the aforesaid reason, too, it is respectfully submitted that the revisionary proceedings initiated under section 263 of the Act is wholly without jurisdiction since the view taken by the assessing officer is, in any case, a plausible view in law,…

AJAY KUMAR DUA,NEW DELHI vs. PCIT CIRCLE 61(1) - 12, NEW DELHI

Appeal is allowed

ITA 3359/DEL/2024[2012-13]Status: DisposedITAT Delhi16 Dec 2024AY 2012-13

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2012-13 Sh. Ajay Kumar Dua, Vs. Pcit, B-3, Defence Colony, Circle-61(1)-12, New Delhi New Delhi Pan :Aajpd3532B (Appellant) (Respondent) Assessee By Sh. Ved Jain, Advocate Sh. Ayush Garg, Ca Department By Mr. Javed Akhtar, Cit(Dr) Date Of Hearing 19.11.2024 Date Of Pronouncement 16.12.2024 Order

Section 143(2)Section 143(3)Section 147Section 263

…rendered assessment order "erroneous". If due to an erroneous order of the AO the revenue is losing tax lawfully payable by a person, it would be certainly prejudicial to the interest of revenue, as held in the case of CIT Vs Leisure Wear Exports Ltd. (2012) 341 ITR 166 (Del.), In case of Malabar Industrial Co. Ltd. Vs CIT (2000) 243 ITR 87 (SC) Hon'ble Apex Court held that there was no material to support the claim of appellant & yet AO accepted the entry in the statement of account in absence of any supporting material and without making any inquiry. It is incumbent on the officer to investigate the facts stat…

RAGHULEELA ESTATES PRIVATE LIMITED,BANDRA, MUMBAI vs. PCIT (CENTRAL), MUMBAI-3, MUMBAI

In the result, appeal of the assessee is allowed

ITA 2595/MUM/2024[2018-19]Status: DisposedITAT Mumbai20 Aug 2024AY 2018-19

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sandeep Singh Karhail, Hon’Ble

For Appellant: Shri Madhur Agarwal, A/RFor Respondent: Smt. Sanyogita Nagpal, CIT, D/R

Section 142(1)Section 143(3)Section 24BSection 263

…fficer the Revenue is losing tax lawfully payable by a person, it would be certainly prejudicial to the interests of the Revenue. Reference is made to the decision of Delhi High Court in CIT v. Leisure Wear Exports Ltd. [2011] 11 taxmann.com 54/202 Taxman 130/341 ITR 166 (Delhi). 31. In the present case, the suo moto revisional proceeding was initiated on the basis of a proposal under section 263 of the Act dated 22.03.2021 submitted by the Assistant Commissioner of Income Tax which was duly forwarded by the Joint Commissioner of Income Tax. On the basis of the said proposal, the notice of hearing under section…

RAGHULEELA ESTATES PRIVATE LIMITED,BANDRA, MUMBAI vs. PCIT (CENTRAL), MUMBAI-3, MUMBAI

In the result, appeal of the assessee is allowed

ITA 2594/MUM/2024[2020-21]Status: DisposedITAT Mumbai20 Aug 2024AY 2020-21

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sandeep Singh Karhail, Hon’Ble

For Appellant: Shri Madhur Agarwal, A/RFor Respondent: Smt. Sanyogita Nagpal, CIT, D/R

Section 142(1)Section 143(2)Section 143(3)Section 263

…fficer the Revenue is losing tax lawfully payable by a person, it would be certainly prejudicial to the interests of the Revenue. Reference is made to the decision of Delhi High Court in CIT v. Leisure Wear Exports Ltd. [2011] 11 taxmann.com 54/202 Taxman 130/341 ITR 166 (Delhi). 31. In the present case, the suo moto revisional proceeding was initiated on the basis of a proposal under section 263 of the Act dated 22.03.2021 submitted by the Assistant Commissioner of Income Tax which was duly forwarded by the Joint Commissioner of Income Tax. On the basis of the said proposal, the notice of hearing under section 2…

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

ITA 148/CHANDI/2021[2016-17]Status: DisposedITAT Chandigarh04 Mar 2024AY 2016-17

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Gautam Jain, Advocate &For Respondent: Shri Rohit Sharma, CIT-DR

Section 147Section 263Section 40A(3)

…dated 7.3.2013 Aarti International vs. CIT vi) 384 ITR 147 (Del) CIT vs. G&G Pharma India Ltd. vii) ITA No. 7785/2015 (Del) dated 13.10.2015 Pr. CIT vs. Rakam Money Matters (P) Ltd. 15.3 It is also settled, as in the case of CIT Vs Leisure Ware Exports Ltd. 341 ITR 166 (Del) that the provisions of Section 263 of the Act cannot be invoked to make deeper enquiry in presumption and assumption that something new may come out. 15.4 In “DCIT Vs Jyoti Foundation” 357 ITR 388 (Del), it has been held that orders passed without enquiry or investigation are treated as erroneous and prejudicial to the interests of the R…

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

ITA 147/CHANDI/2021[2015-16]Status: DisposedITAT Chandigarh04 Mar 2024AY 2015-16

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Gautam Jain, Advocate &For Respondent: Shri Rohit Sharma, CIT-DR

Section 147Section 263Section 40A(3)

…dated 7.3.2013 Aarti International vs. CIT vi) 384 ITR 147 (Del) CIT vs. G&G Pharma India Ltd. vii) ITA No. 7785/2015 (Del) dated 13.10.2015 Pr. CIT vs. Rakam Money Matters (P) Ltd. 15.3 It is also settled, as in the case of CIT Vs Leisure Ware Exports Ltd. 341 ITR 166 (Del) that the provisions of Section 263 of the Act cannot be invoked to make deeper enquiry in presumption and assumption that something new may come out. 15.4 In “DCIT Vs Jyoti Foundation” 357 ITR 388 (Del), it has been held that orders passed without enquiry or investigation are treated as erroneous and prejudicial to the interests of the R…

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

ITA 146/CHANDI/2021[2011-12]Status: DisposedITAT Chandigarh04 Mar 2024AY 2011-12

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Gautam Jain, Advocate &For Respondent: Shri Rohit Sharma, CIT-DR

Section 147Section 263Section 40A(3)

…dated 7.3.2013 Aarti International vs. CIT vi) 384 ITR 147 (Del) CIT vs. G&G Pharma India Ltd. vii) ITA No. 7785/2015 (Del) dated 13.10.2015 Pr. CIT vs. Rakam Money Matters (P) Ltd. 15.3 It is also settled, as in the case of CIT Vs Leisure Ware Exports Ltd. 341 ITR 166 (Del) that the provisions of Section 263 of the Act cannot be invoked to make deeper enquiry in presumption and assumption that something new may come out. 15.4 In “DCIT Vs Jyoti Foundation” 357 ITR 388 (Del), it has been held that orders passed without enquiry or investigation are treated as erroneous and prejudicial to the interests of the R…

NIVESH GROUP ,DELHI vs. PR. CIT DELHI-15, DELHI

In the result, the appeal of the assessee is allowed

ITA 1176/DEL/2022[2017-18]Status: DisposedITAT Delhi08 Dec 2023AY 2017-18

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: Ms Rano Jain, Advocate &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR

Section 139(1)Section 142(1)Section 143(2)Section 143(3)Section 263Section 263(1)

…ade. The ld. PCIT held that due to an erroneous order of the AO the 6 Nivesh Group revenue is losing tax lawfully payable by a person, it would be certainly prejudicial to the interest of revenue, as held in the case of CIT Vs Leisure Wear Exports Ltd. (2012) 341 ITR 166 (Del.) and in case of Malabar Industrial Co. Ltd. Vs CIT (2000) 243 ITR 87 (SC) where in it was held that there was no material to support the claim of appellant & yet AO accepted the entry in the statement of account in absence of any supporting material and without making any inquiry. The ld. PCIT held that where the Assessing Officer keeps a l…

ASHISH NIRANJAN SHAH,,PUNE vs. PR. COMMISSIONER OF INCOME-TAX -4,, PUNE

In the result, appeal of the assessee is dismissed

ITA 697/PUN/2019[2014-15]Status: DisposedITAT Pune13 Oct 2023AY 2014-15

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.697/Pun/2019 िनधा"रण वष" / Assessment Year : 2014-15 Ashish Niranjan Shah, The Pr.Cit-4, Pune. 39, Mantri Court, Dr.Ambedkar V Road, Next To Rto, Sangam, S Pune – 411001. Pan: Aidps 7682 K Appellant/ Assessee Respondent /Revenue Assessee By Shri Kishor B Phadke – Ar Revenue By Shri Keyur Patel, Irs – Cit-Dr Date Of Hearing 28/07/2023 Date Of Pronouncement 13/10/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Pr.Commissioner Of Income Tax-4, Pune Dated26.03.2019 Under Section 263 Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. Learned Pr. Cit- 4, Pune Erred In Law & On Facts In Treating The Assessment Order U/S 143(3) Being Erroneous & Thereby Prejudicial To The Revenue U/S 263 Without Appreciating That, The Learned Ao Has Allowed Appellant'S Claim Of Business Loss Amounting To Rs.10,20,14,068/- Incurred On Account Of Default In Payment By Nsel, With Due Application Of Mind & Verification. The Learned Pr. Cit Erred In Holding That, Ao Has Not Carried Out Any Enquiry With Respect To Business Loss Claimed By The Appellant & Not Applied His Ashish Niranjan Shah [A]

Section 143(3)Section 263Section 43(5)

…आयकर अपीलीय अिधकरण ”ए” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “A” :: PUNE BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.697/PUN/2019 िनधा"रण वष" / Assessment Year : 2014-15 Ashish Niranjan Shah, The Pr.CIT-4, Pune. 39, Mantri Court, Dr.Ambedkar V Road, Next to RTO, Sangam, s Pune – 411001. PAN: AIDPS 7682 K Appellant/ Assessee Respondent /Revenue Assessee by Shri Kishor B Phadke – AR Revenue by Shri Keyur Patel, IRS – CIT-DR Date of hearing 28/07/2023 Date of pronouncement 13/10/2023 आदेश/ ORDER PER DR. DIPAK P. RIPOTE, AM: This…

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