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TMI Blog2015 (10) TMI 305X X X X Extracts X X X X X X X X Extracts X X X X ..... the interest of revenue, don’t co-exist in this case. Accordingly, we set aside the impugned revisional order and restore the assessment order. - Decided in favour of assessee. - I.T.A. No. 333/Jodh/2014 - - - Dated:- 18-9-2014 - SHRI HARI OM MARATHA AND SHRI N.K. SAINI, JJ. For the Appellant : Shri N.R. Mertia. For the Respondent : Shri N.A. Joshi- D.R. ORDER PER HARI OM MARATHA, J.M. : This appeal of the assessee, for A.Y. 2009-10, is directed against the order of ld. Commissioner of Income-tax, Jodhpur, passed u/s 263 of the Income Tax Act, 1961 ( the Act for short). 2. Briefly stated, the facts of the case are that the assessee filed his return of income (ROI) for A.Y. 2009-10 on 30.09.2009, declaring ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e CBDT s guidelines of A.O. is not competent to make any further enquiry other than the issue(s) referred when once books of account cannot be relied upon. In this backdrop, it was submitted that the assessment order is neither erroneous nor prejudicial to the interest of the revenue, and hence no action u/s 263 is justified. 2.1 After considering assessee s version, the ld. Commissioner was not satisfied and has revised the order directing the A.O. to make a fresh order after according opportunity of being heard to the assessee. The assessee has filed appeal against this order dated 20.03.2014, by raising the following grounds of his appeal :- 1 That in the facts and circumstances of the case, the ld. CIT-I, Jodhpur erred in law a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nion that the order passed by the Assessing Officer is erroneous in so far as it is prejudicial to the interest of the Revenue. Once he comes to the above conclusion on the basis of the material that the order of the Assessing Officer is erroneous and also prejudicial to the interests of the Revenue, the CIT is empowered to pass an order as the circumstances of the case may warrant. He may pass an order enhancing the assessment or he may modify the assessment. He is also empowered to cancel the assessment and direct to frame a fresh assessment. He is empowered to take recourse to any of the three courses indicated in section 263. So, it is clear that the CIT does not have unfettered and unchequered discretion to revise an order. The CIT i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tegory of erroneous order. (v) Every loss of revenue cannot be treated as prejudicial to the interest of the revenue and if the Assessing Officer has adopted one of the courses permissible under law or where two views are possible and the Assessing Officer has taken one view under with which the CIT does not agree, it cannot be treated as an erroneous order, unless the view taken by the Assessing Officer is unsustainable under the law. (vi) If while making the assessment, the Assessing Officer examines the accounts, makes enquiries, applies his mind to the facts and circumstances of the case and determines the income, the CIT, while exercising his power under section 263, is not permitted to substitute his estimate of income in plac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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