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2018 (4) TMI 635 - AT - Income TaxRevision u/s 263 - Held that:- In the facts of the present case we find that the CIT has failed to address the replies of the assessee even after extracting them in the order and has passed a bald order without bringing out any error whatsoever let alone an error which can be said to be prejudicial to the interests of the revenue. On going through the Explanation 2 to section 263 of the act which has been inserted w.e.f. 01/06/2015 held that explanation cannot be said to have overridden the law as interpreted by various High courts and the High courts have consistently held that before reaching the conclusion that the order of the AO is erroneous and prejudicial to the interests of the revenue the Commissioner himself has to undertake some enquiry to establish that the assessment order is erroneous and prejudicial to the interests of the revenue. In the facts of the present case we find that no such exercise has been done. - Decided in favour of assessee.
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