9911796707
TMI Blog2019 (5) TMI 190X X X X Extracts X X X X X X X X Extracts X X X X ..... go into the merits of the contentions raised with regard to the order passed u/s 263. The Assessee would be free to raise contentions on merits for issue u/s 14A in appropriate appellate forum, in accordance with law. Appeal of Assessee has become infructuous, in view of later development and therefore Questions of Law framed are not required to be answered. - T.C.(A).No.37 of 2009 - - - Dated:- 19-3-2019 - Dr. Justice Vineet Kothari And Mr. Justice C.V. Karthikeyan For the Appellant : Ms.Mallika Srinivasan For the Respondent : Mr.T.Ravi Kumar Senior standing counsel JUDGMENT DR.VINEET KOTHARI, J. The Assessee has filed this Appeal under Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1961, revising the original assessment order and directing the Assessing Authority to pass fresh orders on the following two issues: (i) For the computation of deduction under Section 10(B) of the Act. (ii) The disallowance of the expenses under section 14 A relatable to Dividend income exempted under the provisions of the Act. 4. The relevant portion of the order passed by the learned Tribunal is quoted below for ready reference: 17.We heard both sides in detail and went through the assessment order as well as the order of the Commissioner of Income Tax passed under Section 263. When we have gone through the assessment order, we find that the Assessing Authority has not made any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthorities are capable of concluding whether the Assessing Atuhotiry has applied its mind in a lawful manner or not. As far as the present case is concerned, the assessment is drawig a blank. 18. Non-consideration of essential points in an assessment order which might come out of non application of mind definetely makes an assessment order erroneous. As the amount involed is very high, the error is definitely prejudicial to the interest of the Revenue. The error of non application of mind in the present case is not divested of revenue implication. Therefore, it is necessary to state that the error of non application of mind committed by the Assessing Authority in the present case has made his order prejudic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income earned therefrom. In the present case, the assessee has earned substantial amount of divident income. Therefore, it was the duty of the Assessing Officer to verify whether the assessee had incurred any expenditure attributable to earning of such income and if so, whether that would attract the provisions of law containing in Section 14A. Therefore, on this point also we find that the order of the Assessing Authority is erroneous and needless to say prejudicial to the interest of the Revenue as the error directly goes to disallowance or expenditure. 21. Therfore, in the facts and circumstances of the case, we find that the revision order passed by the Commissioner of Income Tax is justified in law an ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
