Case Law Details
CIT Vs Y.V. Subramaniam (Madras High Court)
The Tribunal, while allowing the assessee’s appeal, observed that the assessment order was passed after making full verification and the order of the CIT is based on no reason and he has simply given an abrupt finding that the assessment order is erroneous insofar as it is prejudicial to the interest of the Revenue. Further, the Tribunal observed that complete details were filed in the form of confirmation letters before the Assessing Office and he has examined and investigated the same in its correct perspective. The Tribunal found no error in the assessment order and also found that the CIT lacks jurisdiction to revise the assessment order in question. Ultimately, the Tribunal set aside the order passed by the CIT under Section 263 and restored the order passed by the Assessing Officer.
On a perusal of the order passed by the Tribunal, it is clear that the Tribunal has categorically held that the order passed by CIT is based on no reason and assessment order is erroneous. Further, the Tribunal, taking into consideration all the materials available on record, found that the CIT lacks jurisdiction to revise the assessment order passed by the Assessing Officer. When the Tribunal has given a categorical finding with regard to the order passed by the CIT, we do not find any error or irregularity in the order passed by the Tribunal. Further, we find no ground much less any substantial question of law to interfere with the order passed by the Tribunal. The appeal is liable to be dismissed.
FULL TEXT OF THE JUDGMENT/ORDER OF MADRAS HIGH COURT
Challenging the order passed by the Income Tax Appellate Tribunal, Madras “C” Bench in I.T.A.No.1597/Mds/2007, the Revenue has filed the above appeal.
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