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2018 (1) TMI 594 - AT - Income TaxRevision u/s 263 - Held that:- It is observed that the assessee brought to the notice of the CIT that in respect of group concern M/s Sujana Metal Products, similar depreciation claim was allowed by the AO when the CIT set aside the issue to him for examination, but, in the given case, the CIT ignored the submissions of the assessee. In the present case, the learned Assessing Officer after duly considering the explanation and information filed in response to the notice issued u/s. 143(2) of the Act, on being satisfied with such explanation chose not to make any further enquiry. Endless enquiry is not possible and it is for the learned Assessing Officer to decide when to end the enquiry. The learned CIT cannot transgress the jurisdiction under Section 263 of I.T. Act, 1961 by mentioning that no proper enquiry was made. Thus we quash the order passed by the CIT u/s 263 of the Act, considering the fact that CIT has not brought on record the findings to substantiate that the order passed by AO is erroneous and also it is prejudicial to the interests of revenue. Mere set-aside without proper findings by him will be illegal and without proper jurisdiction. Therefore, we restore the order of AO passed u/s 143(3) of the Act - Decided in favour of assessee.
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