RAJESH BALIA, J. - (1.) HEARD learned Counsel for the parties.
(2.) THE application has been moved under Section 256(2) of the Income -tax Act, 1961, by the Revenue seeking a direction to the Tribunal to state the case and refer the following question as question of law arising from the order dated May 26, 1997, of the Tribunal passed in I. T. A. No. 1343/JP/95 relating to the assessment year 1990 -91: Whether, on the facts and in the circumstances of the case, the hon'ble Income -tax Appellate Tribunal was justified in law in quashing the order under Section 263 of the Income -tax Act passed by the Commissioner of Income -tax ? The Assessing Officer had passed the assessment order on December 30, 1992. The Commissioner of Income -tax, considering that the assessment order has been passed without following proper enquiry which has resulted in an erroneous assessment order and prejudicial to the interests of the Revenue, issued notice under Section 263 of the Income -tax Act, 1961, in exercise of his revisional jurisdiction. After notice, a detailed reply has been submitted by the assessee. The Commissioner of Income -tax concluded that: In view of the foregoing discussion, it is clear beyond any doubt that the assessment was completed in undue haste and without making proper investigation by the Assessing Officer, who is a Revenue Officer was bound to do.
(3.) ON this finding, he held that the assessment made under Section 143(3) by the Assessing Officer on December 30, 1992, is erroneous and prejudicial to the interests of the Revenue and, therefore, the same was set aside with a direction to the Assessing Officer to make a fresh assessment order after enquiry.;