COMMISSIONER OF INCOME TAX Vs. RAKSHIT TRANSPORT

JUDGEMENT

(1.) THE Court: The Assessing Officer by his order dated 29th December, 2009 passed under section 143(3) of the Income Tax Act, hereinafter referred to as the said Act, held as follows:

(2.) THE CIT in exercise of power under Section 263 passed an order dated 20th March, 2012 holding that the assessment order was erroneous and prejudicial to the interest of the revenue. The reasons assigned by the CIT, inter alia, were as follows:

(3.) AGGRIEVED by the order passed under section 263, the assessee preferred an appeal before the Income Tax Appellate Tribunal, which by its impugned judgment and order dated 22nd May, 2013 held as follows: