Case Law Details
Pioneer Distilleries Limited Vs Pr. CIT (ITAT Pune)
In the present set of facts where the Commissioner himself has given a finding that the re-assessment proceedings have not been correctly carried out against the assessee and the Assessing Officer has failed to fulfill his obligation, then under such circumstances where, he has also held that since, the copy of reasons recorded for re-opening of the assessment were not furnished to assessee till date of completion of assessment, the order of the AO is void, then revisionary jurisdiction cannot be exercised against such order. When the said order is void and did not stand in law, it cannot be held to be erroneous and prejudicial to the interest of revenue by the Commissioner. Consequently, the exercise of jurisdiction under section 263 of the Act in the present case, is not justified and is bad in law.
FULL TEXT OF THE ITAT JUDGEMENT
The appeal filed by the assessee is against the order of Principal Commissioner of Income Tax – 1, Aurangabad dated 22.12.2016 relating to assessment year 2010-11 against order passed u/s 143(3) r.w.s.147 of the Income Tax Act 1961 (in short “the Act‟).
2. The issue raised in the present appeal is against exercise of jurisdiction by the Commissioner of Income Tax under section 263 of the Act.
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