Itta/36/2007 Of The Commissioner Of Income Tax v. M/S S.krishnaiah

THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. No. 36 of 2007 DATED:5.12.2013 Between:The Commissioner of Income Tax,Hyderabad. … Appellant And M/s. S.Krishnaiah,Secunderabad. ….Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. No.36 of 2007 Judgment:(per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) This appeal was admitted but without formulating thesubstantial question of law. Before taking up of the hearing of theappeal, we are to formulate the substantial question of law asmandated under Section 260-A of the Income Tax Act, 1961 (forshort ‘the Act’). In this case, upon hearing the learned counsel Mr. B. Narasimha Sarma and after going throughthe impugned judgment and order of the learned Tribunal, we donot find any question of law involved in the matter. The AssessingOfficer has taken one possible view and this possible view cannotbe substituted by any other possible view and that is what exactlythe Commissioner wanted to do. In this background, the learnedTribunal held that the pre-conditions for exercise of jurisdictionunder Section 263 of the Act that order prejudicial to the interest ofthe revenue must be existing. On fact, it was found that thiselement was non-existent. Accordingly the exercise of jurisdictionof the Commissioner under Section 263 of the Act in this matterwas uncalled for. Consequently, the order passed there on is alsoliable to be set aside and the learned Tribunal has correctly done so. We do not find any reason to interfere with the same and theappeal is accordingly dismissed. _____________________ K.J. SENGUPTA, CJ _________________ SANJAY KUMAR, J 5.12.2013 PNB