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2020 (10) TMI 348 - AT - Income TaxRevision u/s 263 - assessee trust is registered u/s 12A declaring income at Nil after availing exemption u/s 11 - AO has not examined this aspect and did not bring to tax the surplus declared by the assessee - HELD THAT:- We have gone though the order passed by the AO u/s 143(3) of the Act. We have noticed that the said order is cryptic order without any discussion. It was also not shown to us by the assessee that the AO did examine the taxability or otherwise of the surplus shown by the assessee in its income expenditure account. Since the AO has not examined the issue at all in the asst. order, the impugned asst. order shall be rendered erroneous and prejudicial to the interest of revenue as per the decision rendered by the Hon’ble Supreme Court in the case of Malabar Industrial Company [2000 (2) TMI 10 - SUPREME COURT] Accordingly we did not find any infirmity in the order passed by ld CIT u/s 263 - Decided against assessee.
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