Case Law Details
Gulab Badgujar (HUF) Vs CIT (Central) (ITAT Pune)
The question which arises is the exercise of revisionary jurisdiction by the Commissioner of Income Tax under section 263 of the Act against the order passed under section 143(3) r.w.s. 147 of the Act, wherein the assessment proceedings were re-opened on specific reasons recorded for re-opening. We have already referred to the additions made on the aforesaid reasons in the hands of assessee in the Para above. Once, the re-assessment proceedings are initiated on a specific issue and the addition is made in the hands of the assessee then the Commissioner of Income Tax is precluded from exercise of jurisdiction under section 263 of the Act on a ground which is not covered by the reasons during the re-opening of the assessment since the time for completing the assessment u/s 143(3) of the Act had expired. Hence, we find no merit in the exercise of revisionary power by the Commissioner of Income Tax under section 263 of the Act in the present facts and circumstances.
FULL TEXT OF THE ITAT JUDGEMENT
1. These two appeals filed by assessee are emanating out of separate orders of Commissioner of Income Tax (Central), Nagpur, both dated 19.03.2015 under section 263 of the Act for the assessment years 2006-07 & 2011-12, respectively.
2. Both the appeals relating to the same assessee against order passed under section 263 of the Act were heard together and are being disposed of by this consolidated order for the sake of convenience.
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