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2019 (3) TMI 1963 - AT - Income TaxRevision u/s 263 - addition u/s 69 in respect of land purchased from Pingle family - HELD THAT:- In the present case, it cannot be said that no enquiry was carried out by the AO, at the most it is a case of inadequate enquiry. Even in that case, the provisions of section 263 cannot be invoked. The Explanation 2(1) to Section 263 inserted by the Finance Act 2015 w.e.f. 01-04-2015 would not change the matrix of case as the amendment would not apply retrospectively. Thus, in the facts of the case, impugned order is set aside and the appeal of assessee is allowed.
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