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2014 (12) TMI 1301 - ITAT JAIPURRevision u/s 263 - huge claims of expenditure allowed despite castigating the assessee and huge revaluation amounts have been allowed as exempt u/s 10(2A) in the hands of the firm or partners which in the event of noncooperation ought to have been disallowed - Held that:- The assessment in question was consequent to a search; assesses non cooperation has been adversely viewed by AO and at the end of the day search assessment was framed without co operation of the assessee. Assessment order refers to various frequent reconstitution of the firm and transfer of land rights therein; instances of revaluation of land; claim of their exemption from the taxation are not addressed in the ex parte search assessment order. The issues raised by ld. CIT for non inquiry are found to validly raised and ought to have been inquired by AO more particularly when assessee was non cooperative. For this purpose necessary field inquiries were necessary besides cross verification of record of other search entities. This exercise was required from the AO to have been conducted as a sensible quasi judicial officer. Thus all the deficiencies referred to by ld CIT make the impugned assessment order erroneous as well as prejudicial to the interest of revenue. The reliance on the judgments of Smt. Taradevi Agrawal [1972 (11) TMI 2 - SUPREME Court] and Smt. Renu Gupta [2007 (5) TMI 188 - RAJASTHAN HIGH COURT] is well placed by ld CIT. We uphold the order passed u/s 263. - Decided against assessee.
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