IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, AM.-

&

DINESH MOHAN SINHA, JM आयकरअपीलसं./ITA No.381&382/RJT/2024 (cid:467)नधा(cid:91)रणवष (cid:91) / Assessment Year: (2013-14, 2015-16)

(Hybrid Hearing)

Pareshkumar Nenshibhai Thakkar Vs. Aayakar Bhavan, 6, Dharmendra Road, Race Course Ring Road, Rajkot-360001. Rajkot-360001 èथायीलेखासं./जीआइआरसं./PAN/GIR No.: ABDT0333R (Appellant) (Respondent)

Appellant by : Shri D.M. Rindani, Ld. AR Respondent by : Shri Sanjay Punglia, Ld. CIT(DR)

Date of Hearing : 20/01/2025 Date of Pronouncement : 26/02/2025 आदेश / O R D E R PER DINESH MOHAN SINHA, JM:

Captioned appeal filed by assessee, pertaining to Assessment Year 2013-

14, is directed against the order passed by the Commissioner Of Income Tax (Appeal), vide order dated 25/03/2024, which in turn arises out of an order passed by the Assessing Officer, dated 27/03/2022, u/s 147 r.w.s. 144B r.w.s

143 (3)of the Income Tax Act, 1961.

Grounds of appeal (A.Y. 2013-14)

1. The learned Principal Commissioner of Income-tax-1, Rajkot erred in holding that the assessment order dated 27-03-2022 passed u/s 147 r.w.s. 144B of the Act was erroneous and prejudicial to the interest of revenue and thus erred in assuming jurisdiction u/s 263 of the Act, in the light of show cause notice and the order passed u/s 263 of the Act and hence the impugned order is bad in law.

2. The learned Principal Commissioner of Income-tax-1, Rajkot erred in setting aside the assessment order framed u/s 147 r.w.s. 1448 of the Act by holding that the A.O. did not conduct any inquiries in respect of cash transactions of Rs. 15,84,210/- alleged to be carried out by the Appellant with M/s National Shroff.

3. The learned Principal Commissioner of Income-tax-1, Rajkot failed to appreciate that the impugned issue was duly examined by the assessing officer by way of specific inquiry/notice and replies thereto, while finalizing assessment proceedings u/s 147 r.w.s.

1448 of the Act and hence there is no lack of inquiry thereon.

4. The learned Principal Commissioner of Income-tax-1, Rajkot erred in improving upon the issue on which the Appellant was show-caused and further erred in passing order u/s 263 on issues not confronted to the appellant and hence on this ground also, the order u/s

263 is bad in law.

5 . The learned Principal Commissioner of Income-tax-1, Rajkot failed to appreciate the contention of the appellant raised before him that the underlying order u/s 147 itself was bad in law and therefore it was not amenable to revision u/s 263 of the Act.

6. The appellant craves leave to add, amend, alter and withdraw any ground of appeal anytime up to the hearing of this appeal.

and GROUNDS OF APPEAL (A.Y. 2015-16)

1. The learned Principal Commissioner of Income-tax-1, Rajkot erred in holding that the assessment order dated 27-03-2022 passed u/s 147 r.w.s. 1448 of the Act was erroneous and prejudicial to the interest of revenue and thus erred in assuming jurisdiction u/s 263 of the Act, in the light of show cause notice and the order passed u/s 263 of the Act and hence the impugned order is bad in law.

2. The learned Principal Commissioner of Income-tax-1, Rajkot erred in setting aside the assessment order framed u/s 147 r.w.s. 1448 of the Act by holding that the A.O. did not conduct any inquiries in respect of cash transactions of Rs. 1,42,62,299/- alleged to be carried out by the Appellant with M/s National Shroff.

3. The learned Principal Commissioner of Income-tax-1, Rajkot failed to appreciate that the impugned issue was duly examined by the assessing officer by way of specific Inquiry/notice and replies thereto, while finalizing assessment proceedings u/s 147 r.w.s.

1448 of the Act and hence there is no lack of inquiry thereon.

4. The learned Principal Commissioner of Income-tax-1, Rajkot erred in improving upon the issue on which the Appellant was show-caused and further erred in passing order u/s 263 on issues not confronted to the appellant and hence on this g