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2017 (1) TMI 1010 - HC - Income TaxRevision u/s 263 - ITAT held that the CIT's order directing the AO to obtain the addresses of sundry creditors and verify them is not according to the parameters and principles governing the exercise of powers by the Commissioner under the provisions of section 263 - Held that:- The tribunal while upsetting the finding recorded by the CIT with regard to the verification of the sundry creditors, does not record anywhere in his order that the details as provided by the assessee of the sundry creditors were ever subjected to any kind of the verification. This contention is correct. The order of the tribunal does not record that even though material was there before it, whether the genuineness of the document was ever subjected to any kind of the examination, especially in relation to the sundry creditors whose amounts amounted to almost ₹ 2 crores. In the absence of any findings being recorded with regard to the verification of the details, no doubt prejudice would be caused to the interest of revenue if without examining the details any order was passed. The order of the tribunal is set aside. The order of the CIT is affirmed. - Decided in favour of the department.
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