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TMI Blog2010 (8) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... for determining the respondent-assessee’s income at Rs. 25,00,000/-. Consequently, the said finding of the AO is unsustainable. – matter remanded back - 1082/2010 - - - Dated:- 6-8-2010 - Represented:- Through Ms. Suruchii Aggarwal, Advocate Through None CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE MANMOHAN JUDGMENT MANMOHAN, J 1. The present appeal has been filed under Section 260A of Income Tax Act, 1961 (for brevity "Act, 1961") challenging the order dated 6th January, 2010 passed by the Income Tax Appellate Tribunal (in short "ITAT") in ITA No. 4296/Del/2009 for the Assessment Year 2006-2007. 2. The Revenue is aggrieved by the orders of the ITAT and the Commissioner of Income Tax (Appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sonable opportunity to the AO to examine the fresh evidence. She also submitted that both the CIT(A) and the ITAT had failed to appreciate that AO was within his power to complete the assessment proceedings under Section 144 of Act, 1961. She accordingly, prayed that the impugned order be set aside and the matter be restored to the file of AO for reinvestigation. 6. Having heard learned counsel for Revenue, we are of the view that the orders passed by CIT(A) and ITAT call for no interference. In fact, upon a perusal of the paper book, we find that the AO has, without any basis, estimated the income of the assessee at Rs. 25,00,000/-. 7. Undoubtedly, the AO has the power to frame an assessment under Section 144 of Act, 1961, but while ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us to reverse the findings of the learned CIT(Appeals) and restore that of Assessing Officer. He was unable to bring any material on record. We could understand his logic if some material in the shape of questionnaire or other evidence collected by the Assessing Officer was annexed with the appeal in order to justify the nexus between the estimated income and the material possessed by the Assessing Officer. Learned Assessing Officer has only made a reference of different notices and then all of a sudden observed that income of the assessee is estimated at Rs. 25 lacs. Learned CIT(Appeals) has appreciated the facts and circumstances in right perspective and no interference is called for." 9. Keeping in view the aforesaid admission of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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