THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.527 of 2014 DATED:5.8.2014 Between:
Commissioner of Income Tax,-IV, Hyderabad.
And Sri Aditya Goel, Proprietor M/s. Vrindavan Steels, Hyderabad.
… Appellant ….Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR
I.T.T.A.No.527 of 2014
Judgment : (per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) By the impugned judgment and order, the learned Tribunal has interfered with the order of the Commissioner in exercising jurisdiction under Section 263 of the Income Tax Act, 1961. The learned Tribunal, on analyzing the record found that the Assessing Officer having applied his mind, taken a plausible view under the law.
It is settled position of law that exercise of jurisdiction under Section 263 by the Commissioner of Income Tax is permissible only when there is total non-application of mind and absurd and unacceptable view is expressed. These conditions are not satisfied in this case.
Hence, we dismiss this appeal.
The miscellaneous applications, if any pending, shall also stand closed. No costs.
K.J. SENGUPTA, CJ SANJAY KUMAR, J 5th August, 2014 pnb