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2019 (12) TMI 1255 - AT - Income TaxRevision u/s 263 - whether the AO has made enquiries about cash deposit capital gains bonds and land investment? - HELD THAT:- AO had not made detailed enquiries and with applying his mind accepted the claim cash deposit, capital gains bonds and investment. The perusal of the assessment order shows that it is very short and does not demonstrate or show that any enquiry were made and taken to logical end. Therefore, we find that twin conditions are satisfied for invoking the jurisdiction under section 263 of the Act. Therefore, in absence of the same the ld. CIT was correct in exercise the jurisdiction under section 263 of the Act and setting aside the assessment to be made afresh after giving proper due opportunity that the assessee. Accordingly, we upheld the order passed us 263 of the Act. Accordingly, the appeal of the assessee is dismissed.
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