COMMISSIONER OF INCOME TAX Vs. AKIL GULAMALI SOMJI

JUDGEMENT

(1.) IN all these appeals by the revenue the following question of law has been formulated for consideration by this court. Whether on the facts and in the circumstances of the case and in law the ITAT did not err in holding that no approval could be said to have been given when in fact the Joint CIT has duly applied his mind and corrected the draft assessment order and the changes were incorporated by the AO in the final assessment order?

(2.) THE question of law as framed proceeds on the basis the approval of the Joint Commissioner of Income Tax under section 153D of the Income Tax Act, 1961 has not been obtained. This factually incorrect as the impugned order dated 30/3/2012 in Para 7 records as under :

(3.) IN these appeals, the assessee has questioned first appellate order mainly on two issues. Firstly the validity of assessment order in absence of approval of the Joint Commissioner of Income Tax as provided u/s. 153D of the Act and secondly, the validity of addition of the amount made by A.O. u/s. 69C of the Act on account of unexplained expenditure of interest and brokerage paid by the assessee and other additions.