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2018 (9) TMI 868 - AT - Income TaxRevision u/s 263 - issue of non-deduction of TDS on certain payments as reported in column No. 34(a) of Tax Audit Report remained to be examined by AO to consider disallowance u/s 40(a)(ia) - Held that:- The perusal of chronology of events makes it crystal clear that AO, during assessment proceedings, was clinched with the issue of TDS compliance on expenditure claimed by the assessee and had raised specific queries in this regard. The requite details / response / reply to the same was duly furnished by the assessee from time to time, apparently, to the satisfaction of Ld. AO since no disallowance u/s 40(a)(ia) has been made in the quantum assessment order. We find that it is not a case of lack of inquiry or inadequate inquiry which warrants exercise of revisional jurisdiction u/s 263 by higher authorities. AO, with due application of mind, examined the claim of the assessee in this regard and took a conscious decision not to make any disallowance u/s 40(a)(ia). Nothing on record suggest that the view of the Ld. AO was erroneous, in any manner. This being the case, the order of Pr.CIT, in invoking jurisdiction u/s 263 could not be sustained and the same, in our opinion, was bereft of any merits. Therefore, we quash the same and restore the quantum assessment order of Ld. AO. - Decided in favour of assessee.
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