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2023 (3) TMI 357 - AT - Income Tax
Revision u/s 263 by CIT - setting aside the regular assessment made u/s 143(3) - HELD THAT:- There is nothing on record to show that any enquiry whatsoever was made by the assessing officer so as to ascertained whether rental income from commercial complex and tower amounting as business income or house property income as found by the PCIT on examination of the relevant assessment records. The relevant details to ascertain the exact nature of transaction effected by the assessee in rental income from commercial complex and tower shown as business income instead of house property income.
There is nothing brought on record on behalf of the assessee to rebut or controvert this finding especially recorded by the ld. PCIT during the course of proceeding u/s 263 - In reference to above, the assessee had replied that the rental income offered by the assessee as business income was absolutely right and it should not be treated under the head of house property and in this context assessee did not even furnish any written submission in support of his contention before the ld. PCIT.
It is thus clear that the claim of the assessee for rental income from commercial complex and tower shown as business income instead of house property was allowed by AO without making necessary enquiry which was called for in the facts and circumstances of the case and there was an error in the order passed by the assessing officer u/s 143(3) - Therefore, the view taken by the PCIT on this aspect has rightly pointed out by which he set aside the order passed by the AO stating that it was prejudicial to the interest of revenue. Appeal of assessee dismissed.