9911796707
TMI Blog2022 (9) TMI 1389X X X X Extracts X X X X X X X X Extracts X X X X ..... (c) of Explanation (1) to Section 263 provides that when the appeal is pending before the Commissioner of Income Tax(Appeals) on some issue, the exercise of jurisdiction u/s 263 of the Act on the said issue is not available to the ld PCIT. In the present case CIT (A) is seized of the issue and therefore jurisdiction u/s 263 of the Act has been invalidly exercised by the Ld. PCIT. The case of the assessee finds support from the several decisions of various High Courts namely Smt. Renuka Philip[ 2018 (12) TMI 129 - MADRAS HIGH COURT] , decision of Hon ble Allahabad High Court in the case of CIT vs. Vam Resorts and Hotels Pvt. Ltd. [ 2019 (8) TMI 1418 - ALLAHABAD HIGH COURT] - In both the above decisions as held that when the appeal is pen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich was replied by the assessee on 30.09.2019. The assessee is engaged in the agricultural activities. The assessee had also taken loans from banks of Rs. 5,68,963/- on 29.08.2015 and Rs. 6,15,368/- on 24.08.2016. The assessee has deposited Rs. 15 Lakhs into the bank account on 10.11.2016 and the very second day i.e. 11.11.2016 it was transferred to Sudhanshu Dhal. The said amount was stated to be transferred for purchase of land. The assessee gave a detailed chart wherein total income, total expenditure and cumulative savings from 2007-08 to 2016-17 were given. As per the said chart the savings of the e amounted to Rs. 20,09,054. The AO,after rejecting the contentions of the assessee, analyzed the gross agriculture income for F.Y. 2015-16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Appeals) on some issue, the exercise of jurisdiction u/s 263 of the Act on the said issue is not available to the ld PCIT. In the present case also the ld. Commissioner of Income Tax (appeals) is seized of the issue and therefore jurisdiction u/s 263 of the Act has been invalidly exercised by the Ld. PCIT. The case of the assessee finds support from the several decisions of various High Courts namely Smt. Renuka Philip vs. ITO reported in [2018] 409 ITR 567 (Mad), decision of Hon ble Allahabad High Court in the case of CIT vs. Vam Resorts and Hotels Pvt. Ltd. [2019] 418 ITR 723 (All). In both the above decisions of the Hon ble High Courts has held that when the appeal is pending before the Commissioner(appeals), the exercise of jurisdiction ..... X X X X Extracts X X X X X X X X Extracts X X X X
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