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TAXAP/1213/2007 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 1213 of 2007
======================================
THE
COMMISSIONER OF INCOME TAX-III - Appellant
Versus
K
L DIAMOND - Opponent
======================================
Appearance
:
MR MANISH R BHATT for
Appellant.
None for
Opponent.
======================================
CORAM
:
HONOURABLE
MR.JUSTICE K.A.PUJ
and
HONOURABLE
MR.JUSTICE R.H.SHUKLA
Date
: 14/07/2008
ORAL ORDER
(Per
: HONOURABLE MR.JUSTICE K.A.PUJ)
The
revenue has filed this Tax Appeal under Section 260-A of the Income
Tax Act, 1961 for the assessment year 2002 ? 03 proposing the
following question of law for consideration and determination of
this Court :-
?SWhether
on the facts and circumstances of the case, and in law the Appellate
Tribunal was right in quashing the revision proceedings undertaken by
the CIT under Section 263 of the I.T. Act, 1961, when there are
evidences on record to prove that the Assessing Officer had not
carried out the proper enquiries which are called for ???
Heard
Mr. Manish R. Bhatt, learned Senior Standing Counsel appearing for
the Revenue.
The
Tribunal while quashing the order of the Commissioner of Income-Tax
under Section 263 of the Income Tax Act, 1961 has at length
discussed the entire controversy and relied upon the decision of
this Court in the case of CIT V/s. Arvind Jewellers, 259 ITR 502
(Guj.) and the decision of the Hon’ble Supreme Court in the case
of Malabar Industrial Company Limited V/s. CIT, 243 ITR 83 (SC).
It is further observed that CIT may hold a different view but what
has to been seen is whether view taken by Assessing Officer is
manifestly or palpably wrong. The Tribunal has, therefore, come to
the conclusion that there is no infirmity in the order passed by the
Assessing Officer and hence, it cannot be said that the order passed
by the Assessing Officer is erroneous or prejudicial to the interest
of revenue.
Having
perused the order of the CIT under Section 263 and the Tribunal’s
order, we are of the view that the Tribunal has come to the correct
conclusion which do not call for any interference and no substantial
question of law arises out of the order of the Tribunal. We,
therefore, dismiss this appeal.
Sd/- Sd/-
[K. A. PUJ, J.] [R.H.
SHUKLA, J.]
Savariya
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