Court :
ITAT Kolkata
Brief :
This appeal preferred by the assessee is against the order of Ld. Pr. CIT-10, Kolkata dated 11.12.2018 for A Y 2014-15 passed u/s. 263 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”).
Citation :
I.T.A. No. 260/Kol/2019
IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA
[Before Shri J. Sudhakar Reddy, AM & Shri A. T. Varkey, JM]
I.T.A. No. 260/Kol/2019
Assessment Year: 2014-15
Satish Kumar Lakhmani
(PAN: ABYPL4427B)
Appellant
Vs.
Principal Commissioner of Incometax-10, Kolkata.
Respondent
Date of Hearing (Virtual) 08.04.2021
Date of Pronouncement 21.04.2021
For the Appellant Shri Subash Agarwal, Advocate
For the Respondent John Vincent Donkupar Longstich, CIT, DR
ORDER
Per Shri A.T.Varkey, JM
This appeal preferred by the assessee is against the order of Ld. Pr. CIT-10, Kolkata dated 11.12.2018 for A Y 2014-15 passed u/s. 263 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”).
2. The assessee has raised a legal issue wherein he has challenged the assumption of jurisdiction u/s. 263 of the Act which according to him, the Ld. Pr. CIT does not enjoy in the facts and circumstances of the case.
3. According to Ld. AR Shri Subash Agarwal, a perusal of the impugned order passed by the Ld. Pr. CIT u/s. 263 of the Act reveals that he has passed the order u/s. 263 of the Act on a proposal made by the AO and he drew our attention to para 2 and 3 of the impugned order which read as under:
“2.Subsequently, an error was detected in the assessment order and a proposal was received in this office for review of the impugned order u/s. 263 of the Act.
3. On perusal of the said proposal of the AO, along with the records, prima facie it transpired that the Assessing Officer, namely ITO, Ward-28(4), Kolkata (hereinafter, the AO) had apparently failed to take a logical action on the information available with him.
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