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2018 (2) TMI 870 - AT - Income TaxRevision u/s 263 - how order passed by the AO was erroneous and prejudicial to the interests of the Revenue ? - Held that:- In the instant case, the assessee has provided the entire information to A.O. at the time of assessment, which was being verified by the A.O. before completing assessment. This is evidenced by the questionnaire issued by the A.O. as well as the information furnished by the assessee at the time of assessment. In the consequential order passed u/s 143(3) r.w.s 263 of the Act, the A.O. has not made any specific disallowance in respect of the issues raised by the Ld. Principal Commissioner of Income Tax u/s 263 of the Act except the estimated additions. The Ld. PCIT has not made out a case of not conducting the enquiry on any of the issues, hence, we are unable to sustain the order of the Ld. Principal Commissioner of Income Tax and no reason to hold the assessment order passed by the A.O. was erroneous and prejudicial to the interest of the revenue. We set aside the order of Ld. Principal Commissioner of Income Tax. - Decided in favour of assessee
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