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2015 (10) TMI 2113 - AT - Income TaxRevision u/s 263 - no enquiry and no application of mind for allowing huge amount as exempted u/s 11 - an order which is erroneous as well as prejudicial to the interest of Revenue - Held that:- Assessing Officer himself has observed in the assessment order that the assessee’s entire income is not eligible for exemption u/s 11 and even after making this observation, he has allowed deduction of two huge amounts u/s 11 of the Act and under these facts, it was held by learned CIT that the order of Assessing Officer is erroneous as well as prejudicial to the interest of Revenue. Regarding merit of allowability of exemption, he has not decided the issue and has asked the Assessing Officer to pass a de novo assessment order after examining all aspects and after providing reasonable opportunity of being heard to the assessee. None of the judgments cited by Learned A.R. of the assessee is rendering any help to the assessee and we have also seen that that the assessment order is erroneous as well as prejudicial to the interest of Revenue because of the observation of the A.O. in the assessment order that the entire income of the assessee is not exempt and his action of allowing deduction u/s 11 of two huge amounts and therefore, we find no reason to interfere in the order of learned CIT. - Decided against assessee.
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