9911796707
TMI Blog2001 (6) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... eferred for our opinion : "l. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that no proceedings can be taken under section 263 of the Income-tax Act, 1961, on assessment order completed under section 143(1) of the Income-tax Act, 1961, even if such orders are prejudicial to the interests of the Revenue ? 2. Whether, on the facts and in the ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the Assessing Officer for the aforesaid years by directing that the same be done after enquiries are made relating to the lease rent. The assessee filed an appeal against the aforesaid order before the Tribunal which was allowed vide order dated July 12, 1996 (copy appended as annexure C with this income-tax reference). In fact, two appeals were filed against two separate orders for the two asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e respondent. The apex court in Malabar Industrial Co. Ltd. v. CIT [2000] 243 ITR 83 held that both the conditions that the order of assessment is erroneous and the same is prejudicial to the Revenue must simultaneously co-exist before power under section 263 of the Act can be exercised by the Commissioner of Income-tax. In other words, a mere erroneous order would not give the power to the Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uired into. In the present case, the assessing authority accepted the return filed by the assessee whereby deduction for the lease rent to the extent of the amounts mentioned above was accepted. From the order passed by the Commissioner of Income-tax it is nowhere mentioned as to what was the material with him to order enquiry into the matter by the assessing authority. For the foregoing reason ..... X X X X Extracts X X X X X X X X Extracts X X X X
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