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2017 (4) TMI 299 - MADHYA PRADESH HIGH COURTRevision u/s 263 - Held that:- On a careful perusal of the record, it is apparent that the Commissioner of Income Tax as well as the Income Tax Appellate Tribunal both have recorded a finding to the effect that though the records were filed before the Assessing Officer and a detailed questionnaire was also issued to the appellant by the Assessing Officer to which a reply was filed by the appellant in that regard, the Assessing Officer did not apply his mind nor did he conduct an enquiry into the matter although he has recorded in the note-sheet that the reply filed by the appellant was not satisfactory and did not explain all the facts. The Income Tax Appellate Tribunal on the basis of this finding of fact correctly recorded by it has held that the present case is one of total lack of enquiry and by placing reliance on the decisions rendered by the Supreme Court in the cases of Malabar Industrial Co. Ltd. (2000 (2) TMI 10 - SUPREME Court) has recorded a conclusion that such an order is erroneous and prejudicial to the interest of revenue - Decided against assessee.
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