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2013 (10) TMI 874 - AT - Income TaxRevision of Order prejudicial to Revenue as per Section 263 – Disallowance u/s 14A r.w. Rule 8D of I.T. Rules - Held that:- It cannot be said that assessing officer has taken a possible view in the matter as the same has been done without making any inquiry as to how figure of disallowance has been worked out by the assessee - The law is settled that if AO had passed an order without properly conducting the inquiry, the same can be held to be erroneous and prejudicial to the interest of revenue - AO has accepted the suo moto disallowance u/s. 14A of the Act without going into the details as to how this figure was worked out by the assessee and no query being raised by the AO during the assessment proceedings in this regard, CIT has rightly invoked the provision of Section 263 of the Act - the order passed by Ld. CIT u/s. 263 upheld – Decided against Assessee.
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