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TMI Blog2017 (3) TMI 87X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal, there was nothing on record to demonstrate that at the time of passing the order there was any tax that was payable by the assessee pursuant to the notice under Section 156 of the Act and there was failure on the part of the assessee to pay the tax. Under the circumstances, on the aforesaid ground, the revisional authority was not justified in resorting to the revisionary proceedings. The learned tribunal has rightly interfered with the order passed by the learned CIT. - Decided against the revenue. - TAX APPEAL NO. 102 of 2017 - - - Dated:- 16-2-2017 - MR. M.R. SHAH AND MR. B.N. KARIA, JJ. FOR THE APPELLANT : MR MANISH R BHATT, SENIOR ADVOCATE with MRS MAUNA M BHATT, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inst the professional income of ₹ 29,19,49,163/- shown in the Profit Loss Account and on the basis of the TDS Certificate the gross income should have been ₹ 3,16,99,286/-, and therefore, the assessee has shown less income to the extent of ₹ 2,50,43,697/-. The order of assessment came to be revised in exercise of powers under Section 263 of the Act. It was also noticed by the revisional authority (CIT) that the assessee had failed to pay interest of ₹ 6,59,919/- under Section 220(2) of the Act, and therefore, on the aforesaid two grounds learned CIT took the order of assessment under revision in exercise of powers under Section 263 of the Act. The learned CIT in exercise of revisional powers under Section 263 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x on which learned CIT has resorted to revisionary proceedings under Section 263 of the Act had been examined by the Assessing Officer, the learned CIT was not justified in resorting to revisionary proceedings and the same cannot be sustained. It is submitted that if it is found that the view taken by the Assessing Officer has resulted into prejudice to the revenue and /or interest of the revenue, powers under Section 263 of the Act can be resorted to by the revisional authority. It is submitted that therefore on the aforesaid ground, the learned tribunal is not justified in interfering with the order passed by the learned CIT under Section 263 of the Act. It is submitted that in the facts and circumstances of the case, the learned tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esaid ground, the revisional authority was not justified in resorting to the revisionary proceedings. The learned tribunal has rightly interfered with the order passed by the learned CIT. Now so far as the grievance made by the learned Counsel appearing on behalf of the revenue, more particularly, with respect to the observations made by the learned tribunal in paragraph 4.4 is concerned, as on merits, we are satisfied that the learned tribunal is justified in quashing and setting aside the order passed by the learned CIT, while dismissing the present Appeal, we keep the aforesaid question open and we do not conclude the said question in the present proceedings. [6.0] In view of the above and for the reasons stated hereinabove, we see no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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