Ravindra Dhaka vs Pr.CIT, Faridabad
Parties Involved
Facts Summary
The assessee filed his return of income declaring total income at INR 27,12,580/-. The case was selected for limited scrutiny. During the assessment proceedings, the Faceless AO asked the JAO to provide legible copies of the documents relied upon by the Investigation Wing to allege that assessee has made a cash payment of INR 44,68,000/- in acquisition of property. However, as the legible copy could not be provided, the Faceless AO passed the assessment order u/s 143(3) accepting the income as declared by the assessee. Thereafter, Ld. PCIT initiated proceedings u/s 263 by holding the assessment order as erroneous and prejudicial to the interest of Revenue.…
Decision in favour of
Revenue
Legal Issues
- 1. Erroneous passing of order u/s 263 of the Act by Ld. PCIT
- 2. Validity of initiation of proceedings u/s 263 based on search action u/s 132
- 3. Erroneous assumption of jurisdiction by Ld. PCIT
- 4. Validity of proceedings u/s 263 based on guess work
- 5. Inapplicability of action u/s 263 on the factual matrix of the case
- 6. Failure to appreciate that an order of assessment cannot be set aside simply to make further enquiries
Judgment Outcome
Decided in favour of Revenue.
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