2022 (11) TMI 539 - AT - Income Tax
Revision u/s 263 by CIT - As per CIT, AO has failed to make an enquiry in respect of difference between receipt of brokerage and commission as per TDS certificates deducted u/s 194H and the income declared by the assesse in the books of accounts - HELD THAT:- Case of the assessee finds support to the decision referred by the Ld. A.R namely PCIT vs. Delhi Airport Metro Express Pvt. Ltd. [2017 (9) TMI 529 - DELHI HIGH COURT] wherein held that the Ld. PCIT has to determine the excess depreciation before setting aside the order of AO but since the Ld. PCIT has not undertaken any enquiry to this effect and therefore the order of Ld. PCIT was not sustainable.
Similarly in the present case the Ld. PCIT has not undertaken any enquiry despite the assessee submitting all the necessary details/evidences to this effect and there was no mistake in the order as the so called difference was correctly assessed to tax in AY 2015-16, AY 2017-18 and of Rs. 1,14,500/- shown on account of wrong deduction by Electrosteel Steel Ltd. reimbursement of expenses was appearing in Form 26AS in AY 2017-18. In view of these facts, we are inclined to quash the revisionary proceedings as well the order passed u/s 263 of the Act.Appeal of the assessee is allowed.