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2014 (2) TMI 134 - HC - Income TaxValidity of order – Jurisdiction u/s 163 of the Act – Substantial question of law - Held that:- The Assessing Officer having found certain mistake and short comings in the books of account, if makes an addition of the income which is sufficient in his opinion to compensate the loss of revenue to the department - The revisional authority cannot substitute its own decision to say that the addition made by the Assessing Officer is insufficient - Relying upon CIT Vs. Satpal Agrawal [2007 (2) TMI 104 - HIGH COURT, PUNJAB AND HARYANA] - no substantial question of law arises for consideration, the assessing officer has assessed the income by making certain addition based on his own opinion and have given cogent reasons for the same - There is nothing to say that the opinion and reason given by the assessing officer is wholly erroneous –Decided against Revenue.
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