Commissioner Of Income Tax-I, Ludhiana v. Sh. Amrik Singh

IN THE HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH ITAa162;2010 Decided on : 02.02.2015 Commissioner of Income Tax-I, Ludhiana VERSUS .... Appellant Sh. Amrik Singh .... Respondent CORAMHON4BLE MR. JUSTICE RAJTVE BHALLAHON4BLE MR. JUSTICE B.S. WALIA PresentMr.Rajesh Katoch, Advocate, for the appellant. Mr.S.K.Mukhi, Advocate, for the respondent. KK OK K RAJIVE BHALLA, J. The revenue is before us challenging order dated26.02.2010, passed by the Income Tax Appellate Tribunal,Chandigarh Bench 'A’', Chandigarh, raising the tollowing substantiaquestions of law: - (1)Whether on the facts and circumstances of thecase, the Hon'ble Income Tax Appellate Tribunal 1sjustified in law in holding that the CIT has erred ininvoking the provisions of Section 263 of the I.T.Act,1961, ignoring the fact that the order of the AssessingOfficer passed u/s 143(3) on 14.12.2007 was erroneousin so far as it was prejudicial to the interest of therevenue? (11)Whether on the facts and circumstances of thecase, the Hon'ble Income Tax Appellate Tribunal 1sjustified in law in not appreciating the fact that a firmdecision and reasoning on this issue was given in theorder passed u/s 263 of the I.T.Act, 1961? (11) Whether on the fact and circumstances of thecase, the Hon'ble Income Tax Appellate Tribunal ts justified in law in not appreciating the fact that theprovisions of Section 2(22)(e) of the Income Tax Act,1961 were rightly applicable in the assessee's case? (iv)Whether on the facts and circumstances of thecase, the Hon'ble Income Tax Appellate Tribunal 1sjustified in law in not appreciating the fact that theAssessing Officer had nowhere discussed the issueregarding applicability of Section 2(22)(e) during thecourse of assessment proceedings or in the originalassessment order?” Counsel for the parties agree that as questions of lawframed in ITA Nos.92, 323 of 2013, 5, 62 and 64 of 2014 have beenanswered against the revenue, the present appeal has been renderedinfructuous and may be disposed of accordingly. In view of consensus between counsel for the parties, thepresent appeal has been rendered infructuous and is disposed ofaccordingly. | RAJIVE BHALLA | JUDGE O02 ODJ201monica/Shamsher S.Sabharwal 1 B.S. WALIA | JUDGE