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2011 (10) TMI 43 - ITAT, MUMBAIRevision u/s 263 - Jurisdiction of CIT - Erroneous and prejudicial to the interest of the revenue - CIT on examination of records noted that employees’ remuneration paid by the assessee during the year had increased 5-fold to Rs.2,04,98,187/- as compared to Rs.46,35,046/- in the immediately preceding year, though there was no substantial rise in the turnover. The AO has allowed the same without examination. - Held that:- Once, the assessee makes a particular claim, it is required to be examined and in case AO accepts the claim without any examination or enquiry, the order will be erroneous and prejudicial to the interests of the revenue. Therefore, on the facts of the case we are of the view that the CIT had jurisdiction under section 263 of the IT Act which has been rightly exercised by him. - Decided in favor of Revenue.
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