Itta/6/2015 Of The Commissioner Of Income Tax v. Sri Paladugu Ramakrishna

THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.6 of 2015 DATED:20.03.2015 Between:The Commissioner of Income Tax,Vijayawada.And … Appellant Sri Paladugu Ramakrishna,Vijayawada. ….Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.6 of 2015 Judgment:(per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) This appeal is sought to be preferred and admitted againstthe judgment and order dated 2.7.2010 of the learned Tribunal inrelation to the assessment year 2004-05, by which, the learnedTribunal has dismissed the proceedings initiated under Section263 of the Income Tax Act, 1961. We have heard the learned counsel for the Revenue andhave gone through the impugned judgment and order of the learnedTribunal. It appears, when two views on reading of documents arepossible, the Tribunal has upheld one of such views. In this case,relying on the Supreme Court decisions, the learned Tribunal hasset aside the proceedings initiated under Section 263 of the Act. We are of the view that the learned Tribunal has done correctlyso. As it is settled law, when two possible views are imagined in aparticular matter and if one of the views is taken by the AssessingOfficer, the Commissioner of Income Tax cannot exercisejurisdiction under Section 263 of the Act. Hence, we dismiss the appeal. Pending miscellaneous applications shall also stand closed. No order as to costs. __________________ K.J. SENGUPTA, CJ _________________ SANJAY KUMAR, J 20[th] March, 2015 Pnb