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2014 (4) TMI 439 - AT - Income TaxValidity of Revision by the CIT u/s 263 of the Act - Jurisdiction – Held that:- The order of the AO was not at all a speaking order - On a specific enquiry from the Bench with regard to any questionnaire or explanation asked by the Assessing Officer in respect of the sale returns which was found to be abnormal feature in respect of a business of contractor - It will be proper to admit the additional evidences –it would be appropriate to remit back the matter to the AO for fresh adjudication - the CIT has estimated gross profit @ 20% which cannot be found in order – The CIT was justified in invoking the provisions of section 263 of the Income-tax Act, 1961 as the Assessing Officer’s order was completely nonspeaking and there was no evidence that enquiries have been made on certain issues which were prima facie abnormal in the assessee’s case - the action taken by the CIT u/s 263 of the Act upheld - the additional evidences filed by the assessee be admitted and the issue is remitted back to the AO for verification of facts – Decided in partly favour of Assessee.
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