M/s. Chandukaka Saraf and Co, Pune V. Pr. Commissioner of Income-tax - (Central), Pune

ITSSA 81/PUN/2019

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 1079 (ITAT-PUNE)
• Duration Of Justice: 7 month(s) 4 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 19-12-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 15-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: VIPIN K GUJARATHI
• Keywords: Bogus purchase; Search and seizure; Capital expenditure
• Section: 201; 43; 13; 131; 263; 132

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, PUNE BEFORE SHRI ANIL CHATURVEDI , AM AND SHRI PARTHA SARATHI CHAUDHURY , JM . / IT (SS) A NO S . 80 TO 85/PUN/2019 / ASSESSMENT YEARS : 2009 - 10 TO 2014 - 15 M/S. CHANDUKAKA SARAF AND CO GANDHI CHOWK, TAL. DAUND, PUNE PAN : AABFC0798C ....... / APPELLANT / V/S. THE PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL , PUNE. / RESPONDENT . / ITA NO. 759/PUN/2019 / ASSESSMENT YEAR : 2015 - 16 M/S. CHANDUKAKA SARAF AND CO GANDHI CHOWK, TAL. DAUND, PUNE PAN : AABFC0798C ....... / APPELLANT / V/S. THE PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL , PUNE. / RESPONDENT A SSESSEE BY : SHRI VIPIN K. GUJARATHI REVENUE BY : MRS. NANDITA KANCHAN 2 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 / DATE OF HEARING : 1 9 . 1 2 .2019 / DATE OF PRONOUNCEMENT : 19 .12 .2019 / ORDER PER PARTHA SARATHI CHAUDHU RY, JM : THESE APPEALS PREFERRED BY THE SAME ASSESSEE EMANATE S FROM THE RESPECTIVE ORDERS OF THE LD. PR.CIT - (CENTRAL), PUNE U/S 263 OF THE INCOME - TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) ALL DATED 18.03.2019 FOR THE ASSESSMENT YEARS 200 9 - 1 0 TO 2015 - 16 AS PER THE GROUNDS OF APPEAL ON RECORD. 2. THE CRUX OF THE GRIEVANCE OF THE ASSESSEE IN ALL THE YEARS UNDER APPEAL IS THE ASSUMPTION OF REVISIONARY JURISDICTION U/S 263 OF THE ACT BY THE LD. PR.CIT. 3. BOTH THE PARTIES AGREED THAT THE FACTS AND CIRCUMSTANCES ARE SIMILAR IN RESPECT OF EACH OF THE A SSESSMENT YEARS. THESE CASES WERE THEREFORE, HEARD TOGETHER AND ARE DISPOSED OFF VIDE THIS CONSOLIDATED ORDER. 4. AT THE VERY OUTSET, THE LD. AR OF THE ASSESSEE SUBMITTED THAT ITA NO759/PUN/2019 FOR A.Y. 2015 - 16 CAN BE TAKEN AS THE LEAD CASE TO DECIDE TH E ISSUE REGARDING ALL THESE APPEALS. THAT AS A MATTER OF COMPLETENESS, WE TAKE ITA NO.759/PUN/2019 AS THE LEAD CASE FOR A.Y. 2015 - 16 WHEREIN THE PRINCIPAL FACTS ARE THAT SEARCH AND SEIZURE OPERATION WAS CONDUCTED U/S 132 OF THE ACT ON 26.11.2014 IN THE CH ANDUKAKA GROUP OF CASES. CONSEQUENT TO 3 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 THE SEARCH, THE CASE WAS CENTRALIZED WITH THE CENTRAL CIRCLE - 1(1), PUNE VIDE PR.CIT - III, PUNES ORDER NUMBER 2895, DATED 13.02.2015. DURING THE COURSE OF SEARCH AND POST SEARCH IT WAS DETECTED THAT THE ASSESSEE HAD BOOKED HUGE BOGUS PURCHASES IN FORM OF PURCHASES FROM UNREGISTERED DEALERS (IN SHORT URD). THE ASSESSING OFFICER AT PARA 6.1 OF HIS ORDER HAD ISSUED SUMMONS U/S 131 OF THE ACT TO PRINCIPAL OFFICERS OF CHANDUKAKA SARAF & COMPANY TO ATTEND AND PROVIDE THE DETAILS SUCH AS NAME, ADDRESS, PAN, QUANITY AND AMOUNT FOR GOLD PURCHASED FROM THE UNREGISTERED DEALERS. THE AUTHORIZED REPRESENTATIVE OF THE ASSESSEE ATTENDED AND SUBMITTED THE URD PURCHASE DETAILS. THE NAMES GIVEN BY THE ASSESSEE WERE SEARCHED ON ITD S YSTEM AND IT WAS FOUND THAT NUMBER OF PERSONS DONT EVEN HAVE PAN. THE ASSESSING OFFICER IN ORDER TO VERIFY THE GENUINENESS OF URD PURCHASES ISSUED SUMMONS U/S 131 OF THE ACT TO 43 PERSONS. THAT OUT OF THOSE 43 PERSONS, SUMMONS ISSUED WERE DULY SERVED ON 19 PERSONS AND THAT IS COMING OUT FROM THE ASSESSMENT ORDER AT PARA 6.2 , WHERE THE COMPLETE DETAILS HAVE BEEN GIVEN. THAT FURTHER OUT OF THOSE 19 PERSONS ON WHOSE ADDRESSES THE SUMMONS WERE SERVED 4 PERSONS ATTENDED AND DEPOSED THEIR SUBMISSIONS BEFORE T HE ASSESSING OFFICER. THAT THE ASSESSING OFFICER IN THE COURSE OF ASSESSMENT PROCEEDINGS HAD ISSUED SEVERAL QUESTIONNAIRES TO THE ASSESSEE TIME AND AGAIN ASKING FOR DETAILS REGARDING URD PURCHASES AND THE ASSESSEE HAS CONSTANTLY REPLIED TO THOSE QUERIES A SKED BY THE ASSESSING OFFICER. HOWEVER, NOT BEING SATISFIED WITH THE ENTIRE GENUINENESS OF URD PURCHASES, THE ASSESSING OFFICER MADE DISALLOWANCE OF 2% OF THE TOTAL URD PURCHASES IN CASH AND ADDED BACK THE AMOUNT TO THE INCOME OF ASSESSEE. THEREAFTER, TH E PR.CIT HAD ISSUED SHOW CAUSE NOTICE U/S 263 OF THE ACT, DATED 14.01.2019 TO THE ASSESSEE OBSERVING THAT THE DECISION OF ASSESSING OFFICER DISALLOWING ONLY 2% OF GOLD PURCHASES FROM UNREGISTERED DEALERS IN CASH IS ERRONEOUS AND PREJUDICIAL TO 4 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 THE INTEREST OF THE REVENUE. THE ASSESSEE FILED WRITTEN SUBMISSIONS WITH REGARD TO THE SHOW CAUSE NOTICE. HOWEVER, THE LD. PR.CIT WENT ON TO PASS 263 ORDER ON 18.03.2019 SPECIFICALLY ON THE GROUND THAT THERE HAS BEEN A COMPLETE LACK OF APPLICATION OF MIND AND INCORR ECT ASSUMPTION OF FACTS BY THE ASSESSING OFFICER AND THAT 2% DISALLOWED OUT OF TOTAL URD PURCHASES IN CASH WERE THEREFORE, AN ORDER WHICH WAS ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF THE REVENUE. 5. AT THE TIME OF HEARING, THE LD. AR OF THE ASSESSEE VEHEMENTLY ARGUED THAT IT IS DEFINITELY NOT A CASE OF IN - APPLICATION OF MIND OR INCORRECT ASSUMPTION OF FACTS BY THE ASSESSING OFFICER, SINCE THE ASSESSING OFFICER HAD MADE DETAILED SPECIFIC ENQUIRIES AND ISSUED SHOW CAUSE NOTICE TO THE ASSESSEE. THE CHR ONOLOGY OF EVENTS AND THE SUPPORTING DOCUMENTS FILED BEFORE US IN PAPER BOOK ARE AS FOLLOWS: SR NO DATE OF NOTICE AND DATED OF REPLY SUBMITTED BY THE APPELLANT PAPER BOOK PAGE NO REMARKS A ENQUIRY BEFORE THE DEPUTY DIRECTOR OF INCOME TAX (INVESTIGATION) UNIT II(1), PUNE 1 15 TH JANUARY 2015 PAGE NO 42 TO 43 OF PAPER BOOK FOR AY 2015 - 16 RESPONSE TO THE SUMMON ISSUED BY THE DEPUTY DIRECTOR OF INCOME TAX (INVESTIGATION) UNIT II (1), PUNE ASKING THE DETAILS ON VARIOUS ISSUES INCLUDING DETAILS OF URD PURCHASES B ENQUIRIES BEFORE THE LEARNED ASSESSING OFFICER 2 29 TH MAY 2016 PAGE NO 01 TO 06 OF PAPER BOOK FOR AY 2015 - 16 NOTICE ISSUED BY THE LEARNED AO ASKING THE DETAILS OF URD PURCHASES AND EXPENSES DEBITED TO PROFIT AND LOSS ACCOUNT 3 11 TH AUGUST 2016 PAGE NO 07 TO 08 OF PAPER BOOK FOR AY 2015 - 16 THE LEARNED AO ISSUED FURTHER NOTICE ASKING THE DETAILS OF GOLD PURCHASES MADE FROM UNREGISTERED DEALERS (URD) IN THE SPECIFIED FORMAT 4 26 TH SEPTEMBER 2016 PAGE NO 09 TO 13 OF PAPER BOOK FOR AY 2015 - 16 REPLY SUBMITTED BY THE APPELLANT GIVING COMPLETE DETAILS OF URD PURCHASES MADE FROM AY 2009 - 10 TO AY 2015 - 16 5 07 TH NOVEMBER 2016 PAGE NO 14 TO 15 OF PAPER LETTER ISSUED BY THE LEARNED AO INFORMING THAT SUMMONS WERE 5 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 BOOK FOR AY 2015 - 16 ISSUED TO THE PARTIES FRO M WHOM THE APPELLANT HAS MADE URD PURCHASES AND ASKED THE APPELLANT TO EXPLAIN STATUS OF THE SUMMONS. 6 15 TH DECEMBER 2016 PAGE NO 16 TO 17 OF PAPER BOOK FOR AY 2015 - 16 LETTER ISSUED BY THE LEARNED AO ASKING THE APPELLANT THAT THE PERSON TO WHOM SUMMONS W ERE ISSUED EITHER WERE UNSERVED OR DID NOT ATTEND. OUT OF 43 SUMMONS 19 WERE SERVED AND 4 PERSONS ATTENDED THE SUMMONS 7 21 ST DECEMBER 2016 PAGE NO 18 TO 29 (PAGE NO 27 TO 28) OF PAPER BOOK FOR AY 2015 - 16 REPLY SUBMITTED BY THE APPELLANT FOR VERIFICATION OF URD PURCHASES GIVING THE DETAILS OF MONTH WISE URD PURCHASES MADE (IN GRAMS) ALONG WITH THE ANNEXURE FROM TAX AUDIT REPORT SHOWING OPENING STOCK, PURCHASES MADE, SALES MADE AND CLOSING STOCK IN QUANTITY. 8 21 ST DECEMBER 2016 PAGE NO 18 TO 29 (PAGE NO 27 TO 28) OF PAPER BOOK FOR AY 2015 - 16 REPLY SUBMITTED BY THE APPELLANT PROVIDING DETAILED CHART SHOWING THE NAME, ADDRESS, DATE OF PURCHASE, WEIGHT, AMOUNT PAID, PURCHASE AND SELLING RATES AND THE DETAILS OF PURCHASES AGAINST THE SALE OF GOLD. 9 23 RD DECEMBER 2016 PAGE NO 39 TO 39 OF PAPER BOOK FOR AY 2015 - 16 NOTICE ISSUED BY THE LEARNED AO ASKING FURTHER DETAILS OF URD PURCHASES TO BE BIFURCATED BETWEEN PURCHASES MADE BY CHEQUE AND CASH 10 27 TH DECEMBER 2016 PAGE NO 40 TO 41 OF PAPER BOOK FOR AY 2015 - 16 REPLY SUBMITTED BY THE APPELLANT GIVING BIFURCATION OF URD PURCHASE IN CASH AND CHEQUE. 6. THE LD. AR OF THE ASSESSEE FURTHER SUBMITTED THAT AFTER COMPLETION OF THESE DETAILED ENQUIRIES THE ASS ESSING OFFICER HAD DISALLOWED 2% OF URD PURCHASES. THE LD. AR OF THE ASSESSEE APPRISED THE BENCH THAT ON ABSOLUTELY SIMILAR SET OF FACTS IN THE CASE OF CHANDUKAKA SARAF AND SONS PVT. LTD. IN ITA NOS.684 TO 690/PUN/2019 FOR A.YS. 2009 - 10 TO 2015 - 16 , THERE ALSO THE ASSESSING OFFICER HAD DISALLOWED 2% OF URD PURCHASES MADE IN CASH FOR WHICH PR. CIT ASSUMED THE JURISDICTION U/S 263 OF THE ACT. IN THIS CASE, THE TRIBUNAL OBSERVED AT PARA 11 THAT THERE WERE SEVERAL ENQUIRIES MADE BY THE ASSESSING OFFICER WITH R EGARD TO ASKING FOR DETAILS REGARDING URD PURCHASES, FOR WHICH THE ASSESSEE HAD ALSO GIVEN REPLIES. THE TRIBUNAL OBSERVED THAT THE 6 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 CORE ISSUE OF URD PURCHASES WAS REPEATEDLY EXAMINED OVER A PERIOD OF MONTHS / YEARS AND ISSUED NUMBER OF LETTERS / NOTICES A FTER EXAMINING THREE SETS OF PAPER BOOK CONTAINING 1000 AND ABOVE PAGES. THE TRIBUNAL AT PARA 14(A) OBSERVED REGARDING ASSUMPTION OF INACCURATE PARTICULARS / FACTS AND HELD THAT THE ALLEGATION OF LD.PR.CIT IS UNSPECIFIC AND VAGUE, IN VIEW OF THOSE ENQUIRI ES IN DETAILED MANNER CONDUCTED ALREADY BY THE ASSESSING OFFICER ON THAT VERY ISSUE ON WHICH 263 ORDER WAS PASSED. SIMILARLY, AT PARA 14(B), THE TRIBUNAL OBSERVED THAT WITH REGARD TO EXPLANATION 2 OF SECTION 263 OF THE ACT INSERTED BY THE FINANCE ACT, 2015 W.E.F. 01.06.2015, THE KEY WORDS ARE (I) WITHOUT MAKING ENQUIRIES OR (II) VERIFICATION WHICH SHOULD HAVE BEEN MA DE AND (III) ALLOWING ANY RELIEF WITHOUT ENQUIRING INTO THE CLAIM . ON EXAMINATION OF EACH OF THESE EXPRESSIONS, THE TRIBUNAL NOTED AS PER THE FACTS ON RECORD OF THE CASE THAT A DETAILED VERIFICATION REGARDING URD PURCHASES HAVE BEEN CONDUCTED BY THE ASSES SING OFFICER AND THEREAFTER, HE HAS DECIDED TO DISALLOW 2% OF THOSE PURCHASES. THE ASSESSING OFFICER HAS PASSED THE ASSESSMENT ORDER AFTER CONDUCTING REASONABLE ENQUIRIES AND THEREFORE, IN THAT CASE THE TRIBUNAL HAS HELD THAT THE LD. PR.CIT HAS EXCEEDED H IS JURISDICTION IN INVOKING REVISIONAL POWERS. THE LD. AR OF THE ASSESSEE FURTHER CONTENDED THAT IT IS NOT CASE THAT THE ENTIRE RELIEF HAS BEEN GRANTED BY THE ASSESSING OFFICER TO THE ASSESSEE RATHER HE HAS DISALLOWED 2% OF URD PURCHASES. THEREFORE, THE NEWLY INSERTED EXPLANATION 2 TO CLAUSE (B) OF SECTION 263 OF THE ACT IS NOT APPLICABLE TO THE CASE OF ASSESSEE. MORE, SO BECAUSE THIS EXPLANATION 2 WAS INSERTED W.E.F. 01.06.2015 I.E. A.Y. 2016 - 17, WHEREAS IN THE PRESENT SET OF APPEALS OF THE ASSESSEE IT IS FROM A.Y. 2009 - 10 TO 2015 - 16. THE LD. AR OF THE ASSESSEE PLACED RELIANCE ON THE DECISION OF THE HONBLE BOMBAY HIGH COURT IN THE CASE OF CIT VS. FINE JEWELLERY (INDIA) LTD. IN ITA NO.296 OF 2013 REPORTED IN (2015) 372 ITR 303 (BOM), WHEREIN THE HONBLE 7 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 HIGH COURT HAD OBSERVED AND OPINED THAT THE TRIBUNAL RECORDED THE FACT THAT SPECIFIC ENQUIRIES WERE MADE DURING ASSESSMENT PROCEEDINGS WITH REGARD TO THE DETAILS OF EXPENDITURE CLAIMED UNDER THE HEAD MISCELLANEOUS EXPENSES AGGREGATING TO RS.2.94 CRORES. THE ASSESSEE HAD RESPONDED TO THE SAME AND ON CONSIDERATION OF RESPONSE OF THE ASSESSEE, THE ASSESSING OFFICER HELD THAT THE AMOUNT OF RS.17.98 LAKHS INCURRED ON ACCOUNT OF REPAIRS & MAINTENANCE OUT OF RS. 2.94 CRORES WAS CAPITAL EXPENDITURE. THIS ITSELF WOULD BE INDICATION OF APPLICATION OF MIND BY THE ASSESSING OFFICER WHILE PASSING THE IMPUGNED ORDER. THE CASE OF IDEA CELLULAR LTD. VS. DCIT & ORS. (2008) 301 ITR 407 (BOM) WAS ALSO REFERRED TO, WH EREIN IT WAS HELD THAT IF ENQUIRIES RAISED DURING ASSESS MENT PROCEEDINGS AND RESPONDED TO BY THE ASSESSEE, IT CANNOT BE THEN LEAD TO A CONCLUSION THAT NO MIND HAD BEEN APPLIED TO IT. FURTHER RELIANCE WAS PLACED BY THE LD. AR OF THE ASSESSEE IN ANOTHER DECISION OF THE HONBLE BOMBAY HIGH COURT IN THE CASE OF CI T VS. NIRAV MODI IN INCOME TAX APPEAL NO.117 & 119 OF 2014 REPORTED IN (2017) 390 ITR 292 (BOM) IN WHICH CASE IT WAS HELD BY THE HONBLE HIGH COURT THAT ON OBSERVING THE ORDER OF PR. CIT PASSED U/S 263 OF THE ACT, IT IS CLEAR THAT ENQUIRIES WERE MADE BY TH E ASSESSING OFFICER, THEREFORE, IT IS NOT CASE OF NO ENQUIRY PROBABLY IT IS CASE OF INADEQUATE ENQUIRY BY THE ASSESSING OFFICER ACCORDING TO THE DECISION OF PR.CIT. BUT IN SUCH SCENARIO, PROVISIONS OF 263 OF THE ACT CANNOT BE RESORTED TO AND THE HONBLE H IGH COURT CATEGORICALLY HELD THAT THE POWER OF REVISION U/S 263 OF THE ACT WOULD NORMALLY BE EXERCISED IN CASE OF NO ENQUIRY AND NOT IN CASES OF INADEQUATE ENQUIRIES. 7. PER CONTRA, THE LD. DR PLACED STRONG RELIANCE ON THE 263 ORDER PASSED BY THE PR.CIT. 8 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 8. WE HAVE PERUSED THE CASE RECORDS AND HEARD THE RIVAL CONTENTIONS. WE HAVE ALSO ANALYZED THE FACTS AND CIRCUMSTANCES OF THE CASE. IN THIS CASE, SHOW CAUSE NOTICE U/S 263 OF THE ACT AND THEREAFTER, ORDER PASSED U/S 263 OF THE ACT BY THE LD. PR.CIT IS WITH REGARD TO THE CORE ISSUE OF URD PURCHASES MADE BY THE ASSESSEE AND ACCORDING TO THE OBSERVATIONS OF LD. PR.CIT, THERE HAS BEEN COMPLETE LACK OF APPLICATION OF MIND AND INCORRECT ASSUMPTION OF FACTS BY THE ASSESS ING OFFICER . IN THIS CASE, AS DEMONSTRATED BY THE LD. AR OF THE ASSESSEE AND FACTS ON RECORD THAT WITH REGARD TO THE VERY ISSUE OF URD PURCHASES DETAILED ENQUIRY WAS CONDUCTED BY THE ASSESSING OFFICER AND THE ENTIRE TRAIL OF EVENTS FIND PLACE IN THE PAPER BOOK FILED BEFORE US AND HAS MADE PART OF THE ORDER IN TABULAR FORM AS APPEARING HEREINABOVE OR AS APPEARING IN THE PRECEDING PARAGRAPHS. THE FACTS ALSO REVEALS THAT 43 SUMMONS WERE ISSUED BY THE ASSESSING OFFICER OF WHICH 19 SUMMONS WERE DULY SERVED TO THE CONCERNED PERSONS AND OUT OF THOSE 19, 4 PERSONS ATTENDED THE HEARING. THE ASSESSING OFFICER AFTER CONDUCTING THESE SPECIFIC ENQUIRIES INTO THE MATTER HAD DISALLOWED 2% OF SUCH URD PURCHASES. THEREFORE, THESE TRAIL OF EVENTS ARE COMPLETE EVIDENCE OF THE FACT THAT IT IS NOT CASE OF IN - APPLICATION OF MIND BY THE ASSESSING OFFICER NOR ALSO THERE IS INCORRECT ASSUMPTION OF FACTS BY THE ASSESSING OFFICER. THAT ON SIMILAR FACTS AND CIRCUMSTANCES, PUNE TRIBUNAL IN ITA NOS.684 TO 690/PUN/2019 (SUPRA) HAD OBS ERVED THAT THE ASSUMPTION OF REVISIONARY JURISDICTION U/S 263 OF THE ACT BY THE PR.CIT IS NOT WARRANTED AS PER LAW IN THE CASE OF THE ASSESSEE. WE FURTHER OBSERVED THAT EXPLANATION 2 TO SECTION 263 OF THE ACT HAS BEEN EFFECTIVE FROM 01.06.2015 RELATING TO A.Y. 2016 - 17, WHEREAS THE ASSESSEES CASE IS FOR A.YS. 2009 - 10 TO 2015 - 16. THAT FURTHER CLAUSE (B) OF SUCH EXPLANATION TALKS OF ENTIRE RELIEF OR FULL RELIEF, WHEREAS IN THIS CASE OF ASSESSEE IT IS NOT CASE OF FULL 9 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 RELIEF BUT 2% HAS BEEN DISALLOWED ON URD PURCHASES. THERE IS ALSO NO RETROSPECTIVE APPLICATION TO THIS INSERTION OF PROVISION AS OBSERVED BY THE TRIBUNAL AT PARA 7 IN ITA NO.1056/PUN/2016 FOR A.Y. 2010 - 11 IN THE CASE OF SMT. SHRUTI RAHUL MANE VS. PR.CIT . THE BINDING DECISIONS OF THE HONBLE JU RISDICTIONAL HIGH COURT BRINGS FORTH THE LEGAL RATIONALE THAT THE REVISIONARY JURISDICTION U/S 263 OF THE ACT CAN BE ASSUMED BY THE PR.CIT ONLY IN CASE WHERE THERE IS NO ENQUIRY CONDUCTED BY THE ASSESSING OFFICER, WHEREAS IN THIS PRESENT CASE IT IS ALREADY DEMONSTRATED BEFORE US THAT THERE HAS BEEN ADEQUATE ENQUIRY ON THE CORE ISSUE OF URD PURCHASES BY THE ASSESSING OFFICER. THIS FACT ALSO ACCEPTED BY THE LD. DR AND MOREOVER THE LD. DR COULD NOT BRING ON RECORD ANY OTHER DECISION OR EVIDENCES CONTRADICTING THESE EXISTING FACTS ON RECORD. THAT ALSO, REGARDING THE BINDING JUDGMENTS REFERRED TO BY THE LD. AR OF THE ASSESSEE, THE LD. DR COULD NOT BRING ON BOARD ANY OTHER CONTRARY VIEW OF OTHER HIGH COURT OR THE APEX COURT. IN VIEW OF THE MATTER AND ON EXAMINA TION OF FACTS ON RECORD AND THE BINDING PRINCIPLES ENSHRINED FROM THE JUDICIAL PRONOUNCEMENTS REFERRED HEREINABOVE , WE ARE OF THE CONSIDERED VIEW THAT THE LD. PR.CIT WAS NOT CORRECT IN RESORTING TO REVISIONARY JURISDICTION U/S 263 OF THE ACT AND THEREFORE, WE QUASH THE ORDER PASSED U/S 263 OF THE ACT. 9. IN THE RESULT, APPEAL OF THE ASSESSEE IN ITA NO.759/PUN/2019 FOR A.Y. 2015 - 16 IS ALLOWED. 10. BOTH THE PARTIES AT THE VERY OUTSET HAVE AGREED THAT THE FACTS AND CIRCUMSTANCES FOR ALL THE CAPTIONED ASSESSMENT YEARS ARE SIMILAR AND THEREFORE, OUR DECISION RENDERED IN ITA NO.759/PUN/2019 FOR A.Y. 2015 - 16 SHALL APPLY MUTATIS MUTANDIS TO OTHER ASSESSMEN T YEARS I.E. 2009 - 10 TO 2014 - 10 ITA NO.759/PUN/2019 ITA NOS.80 TO 85/PUN/2019 A.Y S . 2009 - 10 TO 2015 - 16 15 . THEREFORE , THE RESPECTIVE ORDERS PASSED U/S 263 OF THE ACT FOR A.YS. 2009 - 10 TO 2014 - 15 ARE ALSO QUASHED. 11. IN THE RESULT, ALL THE APPEALS OF ASSESSEE ARE ALLOWED. ORDER PRO NOUNCED ON 19 TH DAY OF DECEMBER , 201 9 . SD/ - SD/ - ANIL CHATURVEDI PARTHA SARATHI CHAUDHURY ACCOUNTANT MEMBER JUDICIAL MEMBER / PUNE; / DATED : 19 TH DECEMBER , 2019 . GCVSR / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3 . , , , / DR, ITAT, A BENCH, PUNE. 4 . / GUARD FILE. / BY ORDER , // TRUE COPY // / SR. PRIVATE SECRETARY , / ITAT, PUNE