Merely because assessment order of AO is Brief & Cryptic it cannot be considered as erroneous & prejudicial to revenue interest

Brief of the case:

ITAT Chandigarh held in M/s. Ved Parkash Contractors Vs CIT that if the AO had passed brief and cryptic assessment order but had checked and verified all the related documents submitted by the assesse in reply to the questionnaire of the AO, which contains all the questions raised by CIT, which was found correct and genuine in the eyes of AO so it could not be said that the order passed by the AO was erroneous and prejudicial to the interest of revenue simply because in his order he did not make any elaborate discussion in that regard.

ITAT also held that the submission of partnership deed was not mandatory at the time of filing of return and could be filed at any time before the completion of assessment.

Facts of the case:

On an examination of the assessment record of the assessee for the assessment year under consideration, the CIT observed that the assessment order dated 20.01.2013 passed in this case u/s 143(3) of the Act was erroneous and in as much as it was prejudicial to the interest of Revenue. The Ld. Commissioner issued a notice to the assessee u/s 263 of the Act listing eight issues in respect to which it was found that the assessment order was erroneous and prejudicial to the interest of Revenue. In response to the aforesaid notice, the assessee contended that all the queries raised in the show cause notice had been looked into by the Assessing officer while framing the assessment order and the Assessing officer was fully satisfied with the record produced before him and the content ion put for the before him by the assessee with regard to the points raised by the Ld.Commissioner. The next contention of the assessee was that it was the prerogative of the Assessing officer to make entries in the noting sheet of the record he verified and it was also his preoperative to write the wording of the assessment order as per his choice, but this did not mean that the Assessing officer did not verify the points raised in the show cause notice merely because the order of the Assessing officer was crypt ic would not be a sufficient reason to brand the assessment order as erroneous and prejudicial to the interest of Revenue.

Please become a Premium member. If you are already a Premium member, login here to access the full content.