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TMI Blog2010 (1) TMI 982X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1961 (hereinafter referred to as "the Act" for short) for the assessment year 2003-04. Briefly stated, the facts of the case are that the assessee filed its return on January 30, 2003 admitting total income of Rs. 99,58,851 after claiming deduction under section 80HHC to the tune of Rs. 1,03,65,852. The assessment was completed under section 143(3) by accepting the claim of deduction under s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Revenue. Thus, he has set aside the assessment order dated October 31, 2003 for the assessment year 2003-04 to be passed de novo. Being aggrieved, the assessee is in appeal before us. It was argued by the learned authorised representative with reference to the Central Board of Direct Taxes Circular No. 133/131/97-TPL dated February 23, 1998 that this circular was available when assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... material available on record including the copy of the Central Board of Direct Taxes circular referred to above, we are of the considered opinion that there is no error in the assessment order dated January 23, 2006. This is not a case in which it can be said that the Assessing Officer has not applied his mind. When the Central Board of Direct Taxes circular was very much in vogue and the Income- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n there is a circular which is supposed to be in the notice of the Assessing Officer where is the need to call for further details from the assessee in this regard for that matter. Consequently, we set aside the revisional order passed by the learned Commissioner of Income-tax under section 263 and restore that of the Assessing Officer. In the result, the appeal filed by the assessee stands al ..... X X X X Extracts X X X X X X X X Extracts X X X X
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