Prayag Tendu Leaves Processing Co. v. CIT (2018) 400 ITR 120 / 252 Taxman 306 (Jharkand) (HC)

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Source of capital contribution was explained – Source of the source cannot be gone in to – Revision was held to be bad in law [ S. 68 ]

Appeal was dismissed ex. parte which was allowed to be heard on merits. Dismissing the appeal of the revenue , the Court held that the AO has passed the order after examining the source of capital introduced , hence the revision order to examine the source of the source was held to be not valid . Accordingly the order of Tribunal quashing the revision order was up held . ( AY. 2011-02 )