Itxa/1535/2012 Of The Commissioner Of Income Tax - Iv v. Vyas Realities Pvt.ltd

itxa-1535-12.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1535 OF 2012 … Commissioner of Income Tax-IVv/s.Vyas Realities Pvt.Ltd. ...Appellant ...Respondent … Mr.Tejveer Singh for the Appellant.Mr.Mihir Naniwadekar for the Respondent. ... P.C. CORAM : S.C.DHARMADHIKARI & A.A. SAYED, JJ. DATED : 4 DECEMBER 2014 In this Appeal the Revenue faults the Tribunal for interfering with exercise of powers under section 263 of the Income Tax Act, 1961 by the Commissioner. 2.The Tribunal rendered a finding in its order dated 23 December 2011 that twin requirements enabling revision of an order passed by the Assessing Officer under section 263 of the IT Act are not satisfied. Nowhere the Commissioner has observed in his order as to what errors have been committed by the Assessing Officer while assessing the income of the Assessee and whether such errors resulting in vitiating the order of the Assessing Officer to the extent it being prejudicial to the interest of the Revenue. itxa-1535-12.doc 3.It is because of the efforts undertaken by Mr.Tejveer Singh that we perused both orders namely that of the Commissioner and the Tribunal, copies of which have been annexed. All that we find in the order passed by the Commissioner, from paras 1 to 8, is that in his opinion the Assessing Officer could have approached the matter in the manner suggested and opined by him. He has nowhere held that because the matter was not approached in this manner and the requisite material was not looked into that the order of the Assessing Officer is erroneous and prejudicial to the interest of the Revenue. If this fundamental requirement has not been satisfied as held by the Tribunal, then it cannot be faulted for reversing and upsetting the order of the Commissioner. Further, before the Tribunal it was also urged that the notice under section 263 does not mention certain matters and yet they are forming part of the ultimate order of the Commissioner. 4.In these circumstances, we are of the opinion that the finding of fact rendered by the Tribunal cannot be termed as perverse. It is also not vitiated by any error of law apparent on the face of the record. itxa-1535-12.doc 5.In these circumstances, the Appeal raises no substantial question of law. It has no merits and it is dismissed. No costs. (A.A. SAYED, J.) (S.C.DHARMADHIKARI,J.)