KAMLESH KUMAR JAIN,JAJPUR vs. CIT, CUTTACK

In the result, appeal of the assessee is dismissed

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.265/Ctk/2015 (धनधाारण वषा / Assessment Year :2010-2011) Sri Kamlesh Kumar Jain, Vs. Cit, Cuttack C/O-Jain Transport, Chandikhole, At-Sunguda, Jajpur स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aejpj 7987 H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) निर्ााररती की ओर से /Assessee By : Shri R.K.Jhunjhunwala, Ar राजस्व की ओर से /Revenue By : Shri A.K.Mohapatra, Citdr सुनवाई की तारीख / Date Of Hearing : 19/09/2017 घोषणा की तारीख/Date Of Pronouncement 22/09/2017 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: The Assessee Has Filed An Appeal Against The Order Of Cit, Cuttack, Dated 31.03.2015, Passed U/S.263 Of The Income Tax Act, 1961 For The Assessment Year 2009-2010, Wherein The Assessee Has Raised The Following Grounds :- 1. For That The Learned Cit Has Erred Both In Law & Fact In Invoking The Provisions Of Section 263 Without Satisfying The Requirement Of Law. 2. For That, The Learned Cit Is Wrong & Unlawful In Passing An Order Under Section 263 For Having Disagreement With The Opinion Of Ao, Which Is Not Unlawful. 3. For That The Learned Cit Has Erred Both In Law & Fact By Holding That Exercise Of Power Under Section 263 Is Justified Even In Case Of In Adequate Inquiry By Ao. 4. For That The Learned Cit (Appeal) Has Erred Both In Law & Fact By Passing Order By Exercising Power Under Section 263 Without Having Any Cogent Material On Hand. 5. The Assessee Craves The Leave Of This Honorable Bench To Add, Alter, Modify, Substitute Anv Of The Above Grounds Or Submit Any Fresh Additional Grounds During Appeal Proceeding.

section 263 without having any cogent material on hand. 5. The assessee craves the leave of this Honorable bench to add, alter, modify, substitute anv of the above grounds or submit any fresh additional grounds during appeal proceeding. 2 2. Brief facts of the case are that the assessee is engaged in the business of transportation and construction activities