Rp/326/2016 Of Principal Commissioner Of Income Tax v. M/S Tirupati Construction

1 Review Petition No.326/2016 11.04.2017 Ms. Veena Mandlik, learned counsel for the review petitioner. Shri P.M. Choudhary, learned counsel along with Shri Anand Prabhawalkar, learned counsel for the respondent. Heard on the question of admission. O R D E R This review petition has been filed on the ground that tax effect is less than the monetary limit of Rs.20,00,000/- (rupees twenty lakh) and proceedings under Section 263 of the Income Tax Act, 1961 were initiated on the basis of the audit objection, and therefore, appeal filed by the Department was maintainable and this question has not been considered while passing impugned order dated 17.08.2016 in Income Tax Appeal No.14/2016. 2.Per contra, Shri P.M. Choudhary, learned counsel for the respondent has drawn our attention to the last paragraph of the impugned order and submitted that this Court while considering the aforesaid question dismissed the income tax appeal, and therefore, there is error apparent on the face of record. 3.In view of the aforesaid, no case for review, as prayed for by the Department, is made out. 4.Review Petition No.326/2016 is accordingly dismissed. (P.K. Jaiswal) Judge (Virender Singh) Judge