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Rangbahar, Mumbai vs Assessee cites

M/S. The Malabar Industrial Co. Ltd vs Commissioner Of Income-Tax, Kerala ... on 10 February, 2000

1095, analysed in detail various authoritative pronouncements including the decision of Hon'ble Supreme Court in the case of Malabar Industrial Co. Ltd. V. CIT (2000) 243 ITR 83 as well as Hon'ble Bombay High Court rendered in the case of CIT v. Gabriel India Ltd. (1993) 203 ITR 108 and has pronounced the following broader principles to judge the action of CIT taken under section 263: -
Supreme Court of India Cites 12 - Cited by 2080 - S S Quadri - Full Document

Commissioner Of Income Tax vs Gabrial India Ltd. on 10 February, 2005

12. We are of the opinion that since the A.O. has examined all the issues at the time of assessment and since the A.O. has come to a conclusion in allowing the expenditure on depreciation claimed and also disallowing amounts of expenditure after due verification, the CIT cannot come to a different conclusion on presumptions in the order under section 263. It is the prerogative of the A.O. to pass the assessment and as seen from the assessment record he has examined all the issues which are considered by the CIT for invoking the powers u/s 263. The assessee has furnished the detailed material and explained the issues and has also pointed out that the depreciation on the two properties was examined as early as A.Y. 2001-02 and depreciation was allowed in all the years. Since the A.O. made enquiries in the course of assessment proceedings on the relevant issues and the A.O. 9 ITA No. 2240/Mum/2009 M/s. Rangbahar allowed the claim on being satisfied by the explanation of the assessee on the issue of depreciation and made certain disallowances with reference to various other expenses, we are of the opinion that the CIT has exercised the powers under section 263 without there being any evidence to the contrary. The principles established by the Hon'ble Bombay High Court in the case of CIT vs. Gabrial India Ltd. 203 ITR 108 will equally apply to the present order. Since the CIT has no material to come to the conclusion that the order of the A.O. is erroneous and prejudicial to the interest of Revenue, the order cannot be sustained. Even after examining the issues in his own perspective, the CIT has not given any conclusions about his findings except that his so called findings are used only to arrive at a conclusion that the order is erroneous and is prejudicial to the interest of Revenue. He set aside the issues to the A.O. for examination without giving any specific direction. For all these reasons, we are of the opinion that the CITA has no jurisdiction in revising the order under section 263. Accordingly the assessee's grounds are allowed. Order under section 263 is set aside.
Madhya Pradesh High Court Cites 7 - Cited by 120 - A M Sapre - Full Document
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