Case Law Details
Counsel for the assessee submitted that the Assessing Officer completed the assessment u/s 143(3) of the Act by an order dated 28.3.2013. The Principal Commissioner of Income-tax in the guise of exercising his power u/s 263 of the Act, issued show cause notice calling for the objection of the assessee. The Principal Commissioner of Income-tax has also revised the order of the Assessing Officer and directed the Assessing Officer to reexamine the matter. According to the ld. Counsel, the Principal Commissioner of Income-tax issued show cause notice in respect of one ground, however, revised the order on the basis of another ground which was not put to the assessee. Therefore, the assessee has a prima facie case before this Tribunal, hence, operation of the order passed by the Principal Commissioner of Income-tax may be stayed.
We heard Shri Sundar Rao, ld. Departmental Representative Having heard the ld. Counsel for the assessee and the ld. DR, we find that the assessee is challenging before this Tribunal the order passed by the Principal Commissioner of Income-tax in exercise of his power u/s 263 of the Act. As rightly submitted by the ld. Counsel for the assessee, the show cause notice issued by the Principal Commissioner of Income-tax is on one ground and the order was revised on the basis of another ground, therefore, this Tribunal is of the considered opinion that there is a prima facie case for granting stay. Accordingly, operation of the order of the Principal Commissioner of Income-tax dated 30.3.2015 is hereby stayed.
