DURGESH AUTOFIN P.LTD,BIJNOR vs. PRCIT, MUZAFFARNAGAR
In the result, the appeal of the assessee is allowed
ITA 2539/DEL/2018[2013-14]Status: DisposedITAT Delhi09 Oct 2018AY 2013-14
Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2539/Del/2018 : Asstt. Year : 2013-14 Durgesh Autofin P. Ltd., Vs Pr. Commissioner Of Income Tax, C/O Sh. Pankaj Kumar, Director, Muzaffarnagar-251002 S/O Late Sh. Tejpal Singh, Mandi Kotla, Near Nehru Murti, Chandpur, Bijnot, Bijnor, Uttar Pradesh (Appellant) (Respondent) Pan No. Aaccd0768P Assessee By : Sh. Vivek Bansal, Adv. Revenue By : Ms. Rachna Singh, Cit Dr Date Of Hearing : 29.08.2018 Date Of Pronouncement : 09.10.2018 Order Per N. K. Saini, Am: This Is An Appeal By The Assessee Against The Order Dated 13.03.2018 Of Ld. Pr. Cit, Muzaffarnagar U/S 263 Of The Income Tax Act, 1961 (Hereinafter Referred To As The Act).
For Appellant: Sh. Vivek Bansal, AdvFor Respondent: Ms. Rachna Singh, CIT DR
Section 143(3)Section 263Section 269SSection 271DSection 41(1)Section 68
68 of the Act.
In the present case, it is an admitted fact that the ld. Pr. CIT exercised his revisionary powers u/s 263 of the Act, the said power may be summarized as under:
"(i) The CIT must record satisfaction that the order of the AO is erroneous and prejudicial to the interests of the Revenue. Both the conditions
