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2015 (3) TMI 142 - AT - Income TaxRevision u/s 263 - AO has accepted the income from house property to be Nil without any application of mind or making any enquiry, therefore, his order is also erroneous and prejudicial to the interest of the Revenue - CIT observed that three properties owned by assessee should have been computed as per provisions of section 22 read with section 23 of the Act - Held that:- issue of income from house property is concerned, we find that the Assessing Officer has made a general enquiry with regard to the details of moveable and immoveable properties and investment made therein, but we do not find any proper reply with regard to the immoveable properties and A.L.V. worked out thereon. Therefore, it cannot be said that the Assessing Officer has made an enquiry on this issue. Since the Assessing Officer has accepted the claim of the assessee on this issue without making any enquiry, we are of the view that the order of the Assessing Officer is erroneous and prejudicial to the interest of the Revenue and we accordingly confirm the order of the ld. Commissioner of Incometax in this regard. - Decided in favour of revenue. Debit entry of ₹ 27,75,722/- in the trading account for the year ending on 31.3.2008 under the head “provisions to be made for expenses in current year and credit card payments - Held that: - Assessing Officer has made a proper enquiry with regard to the debit entry of ₹ 27,75,722/- in trading account for the year ending on 31.3.2008 under the head “provisions to be made for expenses in current year” and credit card payments. Therefore, on these two issues, the assessment order cannot called to be erroneous and prejudicial to the interest of the Revenue. We accordingly set aside the order of the ld. Commissioner of Income-tax on these two issues. - Decided in favour of assessee.
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