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2015 (7) TMI 654 - AT - Income TaxRevision u/s 263 by CIT(A) - Held that:- From the para from the order of learned CIT u/s 263 of the Act, it is seen that no categorical finding is given by learned CIT as to what is the error in the assessment order and how the assessment order is prejudicial to the interest of Revenue. He has simply stated that the Assessing Officer has over looked certain facts/expenses/sources of income/transaction of income in bank account which should have been examined properly. Apart from this, we find that for all the points raised by learned CIT in his notice u/s 263, reply has been furnished by the assessee before learned CIT and when we consider the same, we find that the assessment order is neither erroneous nor prejudicial to the interest of Revenue and therefore, we hold that the order passed by learned CIT u/s 263 is not maintainable. We, therefore, quash the order passed by learned CIT. - Decided in favour of assessee.
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