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2020 (2) TMI 266 - HC - Income TaxRevision u/s 263 - contention of the petitioner is that the respondent had no basis to come to the conclusion that the orders have been passed erroneously or to dis-prejudice of the revenue as all the issues raised in the order dated 31.03.2015 were pursuant to a notice issued under Section 148 on 24.03.2014 - HELD THAT:- The assessment order passed on 31.03.2015 for the assessment year 2014-15 has not clearly discussed the issue. Instead, it has accepted the returns filed by the petitioner based on the decision of this Court without actually discussing how the revised returns filed by the petitioner under Section 143 (3) of the Income Tax Act was acceptable. At the same time, it is for the petitioner to establish before the respondent as to whether the invocation of Section 263 was justified or not. Hence, the petitioner can be directed to participate in the adjudicatory mechanism prescribed under the Act. Therefore, the petitioner is directed to file its reply to the impugned notice within 30 days from the date of receipt of this order. The respondent shall pass an appropriate order within a period of 30 days thereafter.
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