JUDGMENT :

Goutam Bhaduri, J.

1) These are two appeals filed by the appellant/Revenue under section 260-A of the Income Tax Act, 1961 against the orders passed by the Income Tax Appellate Tribunal, Raipur. Since the facts and substantial questions of law involved in both the cases are similar, they are heard analogously and decided by the common order.

2) The facts of TAX Case No.5 of 2022 are that the return of income was electronically filed by the assessee company for the year under consideration 16.10.2016 declaring the total income of Rs.7,93,940/- for the Assessment Year 2016-2017. The case was selected for scrutiny through CASS and accordingly the assessment under section 143(3) of the Income Tax Act, 1961 was completed on 28.12.2018. The Revenue Department initiated the revision proceeding against the order passed by the Assessing Officer on the ground that it is erroneous and prejudicial to the interest of Revenue. It was alleged that certain properties were sold by the assessee by showing lesser value than the value, which was assessed for the purpose of payment of stamp duty and it was contended that short levy of tax was made of Rs.3,66,049/-. The revenue contended that the assessee has paid Rs.9 lakhs on account of commission or brokerage which is deductible under TDS was not deducted. Therefore, wrong assessment of income was made and the disallowance of Rs.2,70,000/- i.e., 30% of Rs.9,00,000/- should have been ordered as per section 40(a)(ia) of the I.T. Act. It is stated that the enquiry to ascertain the facts about the issue having not been done by the Assessing Officer and since no addition was made during the course of assessment proceeding, the order of the assessing officer was prejudicial to the interest of Revenue which has resulted in under-assessment. It is the further case of revenue that the Principal Commissioner of Income Tax exercising the revisional power under Section 263 of the I.T. Act set aside the order 28.12.2018 and remanded the matter to the Assessing Officer for fresh adjudication of the following issues by affording adequate opportunity of hearing to the assessee :-

(1) Identity, genuineness and creditworthiness of M/s,. Gangotri Tracon P. Ltd., in respect of sum of Rs.18,12,00,000/- in the light of provisions of Section 68 of the IT Act, 1961 ;

(2) To verify the genuineness of both stamp papers with the competent authority who issued those stamp papers ;

(3) To invoke the doctrine of substance over form in respect of transaction with M/s. Gangotri Tracon P. Ltd., after due verification ;

(4) To verify the unsecured loan, repayment of loan and interest payment of sum of Rs.7,63,19,047/-, Rs.5,59,31,494/- & Rs.19,71,250/- respectively ;

(5) To verify the applicability of Section 43CA in respect of sale deed executed below stamp duty value; and

(6) To verify the applicability of Section 40A(3) in respect of payment for purchase of land ;

3) The facts of Tax Case No. 7 of 2022 are that the return of income was electronically filed by the assessee company for the year under consideration on 29.09.2015 declaring total income of Rs.49,48,309/- for the assessment year 2015-2016. The case was selected for scrutiny through CASS and accordingly, assessment u/s 143(3) of the IT Act was completed on 21.08.2017. The Revenue having considered that the order passed by the Assessing Officer was prejudicial to the interest of the Revenue initiated the revision proceeding. The Principal Commissioner Income Tax vide its revisional order dated 22.03.2021 passed u/s 263 of the Act set aside the order passed by the Assessing Officer and remanded the case to the Assessing Officer for fresh adjudication of the following issues by conducting necessary enquiries and affording adequate opportunity of hearing to the assessee :

(1) Identity, genuineness and creditworthiness of M/s. Gangotri Tracon Ltd in respect of receipt of sum of Rs.16,00,00,000/- in the light of provisions of section 68 of the I.T. Act, 1961;

(2) To verif