2013 (4) TMI 448

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Tax Appellate Tribunal, Delhi Bench, Delhi 'C' has referred the following question of law for the opinion of this Court: - "Whether, on facts and in view of legal position of the case, the Tribunal was legally justified in cancelling the order passed by the Commissioner of Income Tax under section 263 of the Income Tax Act?" The dispute relates to the assessment year 1981-82. The assessee clai .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ax Officer accepted the return. The order of the Income Tax Officer has been revised by the Commissioner of Income Tax u/s 263 of the Income Tax Act. The order passed by the Commissioner of Income Tax has been set aside by the Tribunal. A bare perusal of the order of the Commissioner of Income Tax would show that he was of the opinion that the assessment proceedings were concluded hurriedly witho .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... enquiry/investigation and after giving the assessee Trust an opportunity to represent its case before him." The Tribunal has found that the Assessing Officer concluded the assessment proceedings after making necessary inquiry. The Tribunal has also disagreed with the opinion of the Commissioner that the creation of Trust is barred against the Rule of Perpetuity as finds place in Section 14 of the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X