COMMISSIONER OF INCOME TAX Vs. M/S. PAVILLE FASHIONS PVT. LTD.
LAWS(BOM)-2017-9-117
HIGH COURT OF BOMBAY
Decided on September 18,2017

COMMISSIONER OF INCOME TAX Appellant
VERSUS
M/S. Paville Fashions Pvt. Ltd. Respondents

JUDGEMENT

S.C.DHARMADHIKARI,J. - (1.) By this Appeal, the Revenue challenges the order of the Income Tax Appellate Tribunal dated 21st May, 2014(Paville Fashion Pvt. Ltd. v. Commissioner of Income Tax, (2014) 35 ITR (Trib) 352 (Mum). The Income Tax Appeal No. 16/Mum./2012 for the assessment year 2007-2008 of the assessee has been allowed by the Tribunal.
(2.) The assessee was aggrieved by an order passed on 24th November, 2011 by the Commissioner-VII, Mumbai. The Commissioner invoked section 263 of the Income Tax Act, 1961 (for short, 'the IT Act") and held that the order of the Assessing Officer brought before him and dated 15th December, 2009 is erroneous insofar as it is prejudicial to the interest of the Revenue.
(3.) Mr. Mohanty would submit that the Tribunal has grossly erred in interfering with such an order. The satisfaction of the Commissioner was within the four corners of law and not exceeding the same. The Commissioner was of the clear view that the Assessing Officer has erred in passing the order of assessment, and particularly, there is no application of mind. He has wrongly accepted the working of capital gains and that is apparent from the facts brought before the Commissioner.;


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