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2016 (1) TMI 602 - AT - Income TaxValidity of revision u/s 263 - Held that:- Assessing Officer has appreciated the facts as per facts before him. Improper appreciation of facts by Assessing Officer cannot be held proper ground for holding the order of Assessing Officer erroneous as well as prejudicial to the interest of revenue under the provisions of Section 263. Provisions of 263 of Act can be invoked. In case of no enquiry on issue by Assessing Officer. The improper or less enquiry cannot be valid basis of invoking provisions 263 of Act. Inquiry on particular issue is subject outlook of concern Asessing Officer. Subject outlook may vary person to person. In view of above discussion, order of CIT cannot be sustained same is quashed. - Decided in favour of assessee.
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