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2019 (12) TMI 660 - AT - Income TaxRevision u/s 263 - Assessment proceedings u/s 143(3) - HELD THAT:- Books of accounts, voucher Bank statement invoice and purchase bills are ready available for your inspection. In view of the above, we hold that the assessment order was framed under section 143(3) of the Act after due verification by the AO. Accordingly, we are of the view that the order of the AO cannot be held as erroneous insofar prejudicial to the interest of Revenue on account of non-verification of the facts as stated above. See MALABAR INDUSTRIAL CO. LTD. VERSUS COMMISSIONER OF INCOME-TAX [2000 (2) TMI 10 - SUPREME COURT] - We quash the order passed by the Ld. PCIT under section 263 of the Act. Hence the ground of appeal of the assessee is allowed.
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