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2022 (12) TMI 39 - HC - Income TaxRevision u/s 263 - Estimation of bogus purchases - HELD THAT:- Since a common order passed by the learned Tribunal had been reversed by this Court [2022 (7) TMI 1352 - CALCUTTA HIGH COURT] wherein as held that it was the factual position in the case on hand then it is incumbent upon the AO to inquire into the matter and take the proceedings to the logical end. Having not done so, PCIT was fully justified in exercising jurisdiction u/s 263 of the Act - the said decision will apply to the cases on hand as well. For the above reasons, the appeals filed by the revenue are allowed and the order passed by the learned Tribunal is set aside.
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