2023 (7) TMI 1570

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..... t Sharma, Adv. ..for the appellant Ms. Jayati Chowdhury, Adv. ....for the respondent ORDER The Court : We have heard Mr. Om Narayan Rai, learned senior standing counsel assisted by Mr.Amit Sharma, learned junior standing counsel for the appellant/revenue and Ms.Jayati Chowdhury, learned counsel for the respondent/assessee. There is a delay of 734 days in filing the appeal. Though the explanati .....

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..... ubstantial error in law in quashing the order under Section 263 of the Income Tax Act, 1961 when it is apparent from the records that the assessment order was erroneous and prejudicial to the interest of the Revenue inasmuch as the same had been passed by the assessing officer without making due and proper enquiry and without verification of the aspect of genuineness of the purchases and expenditu .....

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..... ol/2018. The said order was challenged by the appellant/revenue in ITAT No.115/Kol/2021 and by the judgment and order dated 8th July, 2022 the appeal was dismissed. The operative operation of the judgment is reads as follows : "The assessee preferred appeal before the tribunal. The tribunal, in our view, rightly took note of the decision of the Hon'ble Supreme Court in Malabar Industrial Co. Ltd .....

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..... o finding recorded that the books of accounts of the assessee were rejected. Furthermore, the specific issue raised by the assessee that the documents and details were furnished before the assessing officer was not found to be incorrect. Therefore, we are of the view that the tribunal having taken note of the factual position had rightly interfered with the order passed by the PCIT. The learned st .....

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..... ld that the tribunal could not have restricted the disallowance only to Rs.73,23,32/-. Thus, there was a factual adjudication in the said case and the order passed by the tribunal was faulted for rejecting the disallowance. The decision is distinguishable on facts and cannot in any manner advance the case of the appellant before us. For the above reasons, we find that there is no question of .....

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