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TMI Blog2015 (6) TMI 101X X X X Extracts X X X X X X X X Extracts X X X X ..... r in the parallel proceedings under section 263 of the Act. The observations in the order dated 02.01.2012 regarding the validity of the payment of interest by the respondent/assessee have also attained finality. The appellant can not succeed in the proceedings under section 263 only by an order and upon a finding which would be contrary to and in conflict with the findings and the decision dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owing substantial question of law arises in this appeal:- Whether on the facts and circumstances of the case, Hon ble ITAT Bench was justified in law and on the facts in holding that learned CIT has no jurisdiction under section 263 of the Act to substitute his view in place of view taken by the A.O. being quasi-judicial authority. In our view, the substantial question of law does not aris ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... annum on their capital as per books of the firm to be calculated in their credit balance in the firm s books as on the first day of the accounting period. It was held that the payment of interest was in accordance with the provisions of Section 40(b)(iv) of the Act and the C.I.T. (A) deleted disallowance of 1,66,968/- and held the respondent to be entitled to total relief of ₹ 2,13,710/-. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r to pass a fresh order after proper examination of the matter. 5. By the order dated 31.01.2011 impugned in the present appeal, the Tribunal set-aside the order dated 12.03.2010. 6. This brings us to parallel proceedings in revision which has led to the passing of the order impugned in the present appeal. 7. On 30.12.2010, a fresh assessment order was passed by the Assessing Officer purs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the order dated 02.01.2012 regarding the validity of the payment of interest by the respondent/assessee have also attained finality. 9. The appellant can not succeed in the proceedings under section 263 only by an order and upon a finding which would be contrary to and in conflict with the findings and the decision dated 02.01.2012 of the C.I.T. (A) in the appeal filed by the respondent agai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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