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2019 (3) TMI 130 - AT - Income TaxValidity of invoking revisionary jurisdiction by CIT u/s 263 - lack of enquiry on the part of the AO on the list of taxable and non-taxable services - HELD THAT:- There is no incorrect assumption of facts and wrong application of law neither on the part of the AO nor has been pointed out by the ld CIT in his section 263 order. Hence it could be safely concluded that though not considering the revised return while completing the assessment on 10.3.2014 would make the order of the AO erroneous, it does not cause any prejudice to the interest of the revenue as all the requisite details were already on record with supporting evidences and the same were duly examined by the AO. Hence it is not the case of lack of enquiry on the part of the AO on the list of taxable and non-taxable services disclosed by the assessee. We hold that the twin conditions precedent for invoking revisionary jurisdiction u/s 263 of the Act is conspicuously absent in the instant case and accordingly by placing reliance on the decision of the Hon’ble Supreme Court in the case of Malabar Industrial Company Ltd vs CIT (2000 (2) TMI 10 - SUPREME COURT), revisionary jurisdiction u/s 263 cannot be invoked by the CIT-A - Decided in favour of assessee.
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