PHILIPS INDIA LTD. Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is an appeal by assessee against the order dated 17.03.2014 of Ld. CIT -IV, Kolkata. Following grounds have been raised in this appeal:

(2.) FOR that on the facts and in the circumstances of the case and in law, the Ld. CIT grossly erred in setting aside the issue of allowability of lease rentals to the file of the Assessing Officer for conducting examination of the facts without in any manner proving that the assessment order dated 07.04.2011 suffered from any specific error which caused prejudice to the interests of the Revenue.

(3.) FOR that on the facts and in the circumstances of the case and in law, the Assessing Officer in the notice U/S. 142(1) having specifically raised and thereafter examined the issue of allowability of lease rents paid in respect of leased motor cars the Ld. CIT was unjustified in considering the assessment order dated 07.04.2011 to be erroneous merely because on the same set of facts he entertained a different opinion/view.