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2020 (10) TMI 1015 - AT - Income TaxRevision u/s 263 - Assessment u/s 153A - As per CIT no enquiry/verification was conducted by Ld.AO, in respect of expenditure incurred in cash and applicability of provisions of section 40A(3) - HELD THAT:- Applicability of principle of merger do not arise since Ld.AO had not considered the issue of expenditure made in cash by assessee and applicability of section 40A (3) of the Act u/s 143(3) r.w.s 153A. On an appeal by assessee before Ld.CIT (A), we note that assessee challenged only disallowances made by Ld.AO, under the head capital gains. CIT on perusal of assessment records held that Ld.AO, did not make any inquiries or called for any information/evidences in respect of such huge expenditure in cash, and that assessment order; do not reveal that, Ld.AO considered all aspects of the case, including huge expenditure incurred by assessee in cash. Even before us, Ld.AR could not establish the fact that, any query was raised and/or enquiries conducted by way of documentary evidences on this aspect. AO failed to apply his mind to this issue and therefore order passed by him was erroneous in sofar as it was prejudicial to the interests of the revenue. We therefore do not find any infirmity in the order passed by Pr.CIT and the same is upheld. - Decided against assessee.
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