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2022 (9) TMI 457 - AT - Income TaxRevision u/s 263 by CIT - lack of enquiry or inadequate enquiry - unexplained purchases - reopening of assessment - HELD THAT:- PCIT has referred to a particular agreement to sell which the assessee has denied as having entered into with the seller Shri Nirmal Singh. It is also note-worthy that the said agreement to sell does not contain the signature of the assessee. In absence of her signatures, no evidentiary value can be attached to the said agreement to sell. In our considered view, based on the record before him, the AO took a conscious view after due application of mind and after deciding that no further enquires were required, he accepted the returned income of the assessee. AO took one of the possible views which he could have taken and he chose to accept the contention of the assessee. It is settled law that no assessment order would become erroneous and/or prejudicial to the interest to the revenue only because the AO has accepted the contention of the assessee. Issue of lack of enquiry and inadequate enquiry, it would be relevant to make a reference to the order of the coordinate Bench in the case of Sanjay Jain & Others [2022 (3) TMI 1189 - ITAT CHANDIGARH] wherein, the co-ordinate Bench relied upon the judgment of the Hon'ble Delhi High Court in the case of CIT Vs. Sunbeam Auto Ltd. [2009 (9) TMI 633 - DELHI HIGH COURT] and also the judgment in the case of ITO Vs. DG Housing Projects Ltd. [2012 (3) TMI 227 - DELHI HIGH COURT] wherein High Court has ruled that one has to keep in mind the distinction between lack of inquiry and inadequate inquiry and further if any inquiry was found to be inadequate, that would not by itself give occasion to the Commissioner to pass the order u/s 263 merely because he has a different opinion in the matter. Further, the Ld. PCIT has not pointed out as to what further inquiries were required to be made and how without those inquiries, the order of the Assessing Officer was erroneous in so far as being prejudicial to the interests of revenue. Contention of the assessee that in the case of husband, Shri Inderjit Singh, on similar facts and circumstances, 148 proceedings were filed has also to be duly considered as on the same set of facts, there cannot be two separate conclusions and further on account of consistency, the order of the ITAT Chandigarh Bench in the case of Smt. Amarjit Kaur [2019 (6) TMI 1645 - ITAT CHANDIGARH] is quite relevant. Thus both on the issue of application of mind and adequate inquiry having been made by the Assessing Officer as well as on the issue of consistency, as elaborated above, we have no hesitation to quash the order as passed by the Ld. PCIT under section 263 of the Act. Assessee appeal allowed.
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