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2018 (9) TMI 782 - AT - Income TaxRevision u/s 263 - Contention of ld. AR is that the AO has made an enquiry and the Pr.CIT again called for the necessity of enquiry in respect of sundry creditors and also the order passed by the Pr. CIT does not satisfy twin conditions i.e. erroneous or prejudicial to the interest of Revenue - Held that:- Pr.CIT found the confirmations submitted in the assessment proceedings before the AO of sundry creditors are not satisfactory and the AO has not examined and enquired regarding sundry creditors to the extent of ₹ 17,38,511/- and has not recorded his findings in the assessment order. AO has followed the directions of Pr. CIT on the disputed issue of verification of sundry creditors and the ld. AR of the assessee has participated in the assessment proceedings and filed the details and also information was called for u/s.133(6) of the Act in respect of sundry creditors and finally the AO has passed the order u/s.143(3) r.w.s 263. Therefore, we are of the opinion that the assessee has participated in the assessment proceedings and as envisaged by the ld. AR the assessee has filed an appeal against the order of AO passed u/s.143(3)/263 of the Act. Pr.CIT has dealt on the disputed issue and considered the judicial decision and passed a reasoned order. - Decided against the assessee.
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