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2020 (8) TMI 711 - AT - Income TaxRevision u/s 263 - claim of exemption u/s 10(38) was allowed to the assessee without any enquiry - HELD THAT:- On careful examination of the whole issue it is apparent that the ld AO did not carry out any enquiry with respect to the long term capital gain claimed by the assessee u/s 10(38) - On careful examination of the order passed by the learned principal Commissioner of income tax, we found that, necessary enquiries were made by PCIT on the issue, therefore, on this account no fault could be found with the order u/s 263 - when no inquiries have been made by the learned assessing officer, for the reason for which the case of the assessee was selected in scrutiny, the order is erroneous and prejudicial to the interest of the revenue. This issue is squarely covered in favour of the revenue wherein identical facts and circumstances of the case the action of the PCIT in absence of revisionary order u/s 263 of the Act was upheld in POOJA GUPTA VERSUS PR. CIT, NEW DELHI [2019 (1) TMI 1630 - ITAT DELHI]. We uphold the action of the ld PCIT in holding that the order passed by the ld AO is erroneous and prejudicial to the interest of the revenue. Accordingly, all the grounds of appeal of the assessee revolving on the challenge to the order passed u/s 263 of the income tax act by the learned principal Commissioner of income tax are dismissed.
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