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2020 (2) TMI 985 - AT - Income TaxRevision u/s 263 - AO not inquired whether any capital gain arose to the assessee; whether he has computed any deduction under section 54C/54E - HELD THAT:- AO has not asked any question relating to the issue entertained by the ld.Commissioner in 263 proceedings. The assessee during the course of hearing drew our attention towards question raised at serial no.6 of the questionnaire but under this question, the AO has only called for a copy of any sale/purchase deed, if done by the assessee. He has not inquired whether any capital gain arose to the assessee; whether he has computed any deduction under section 54C/54E etc. This questionnaire is totally silent. Thus, it gives an impression that the AO has accepted the accounting entry as it is, without making any inquiry. Therefore, to our mind, it is a fit case where the ld.Commissioner has jurisdiction to take cognizance under section 263 of the Income Tax Act. We do not find any error in the order of the ld.Pr.CIT. Accordingly, the appeal of the assessee is dismissed.
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