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2014 (1) TMI 1324 - AT - Income TaxValidity of Revision u/s 263 of the Act Deduction u/s 80P of the Act Held that:- The assessing officer has passed a cryptic order and it does not contain any discussions on the issues pointed out by the CIT in the revision order the CIT held that the assessment order is erroneous and prejudicial to the interests of revenue and accordingly set aside the assessment order with a direction to the Assessing Officer to pass appropriate order as per law after giving sufficient opportunity to the assessee - As decided in COMMISSIONER OF INCOME-TAX Versus TOYOTA MOTOR CORPORATION [2008 (4) TMI 231 - DELHI HIGH COURT] that the proceedings before the AO are quasi-judicial proceedings and a decision taken by the AO in this regard must be supported by reasons - the assessment order should be passed with or contain proper reasons on various issues the CIT would have pointed out the implication on the tax computation if it is decided against the assessee, in which case the assessment order passed by the assessing officer would become prejudicial to the interests of the revenue the CIT was justified in passing the revision order and thus, no interference is called for Decided against Assessee.
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