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2023 (6) TMI 40 - ITAT DELHIRevision u/s 263 - PCIT noted AO has not made any effective enquiry at all before accepting the long term capital gain and deduction claimed u/s. 54F - HELD THAT:- Allegation of the Revisionary Authority remains uncontroverted before us, as the assessee has neither appeared nor filed any submission to demonstrate that the assessment order is neither erroneous nor prejudicial to the interest of revenue in terms of section 263. Assessee’s case was selected for limited scrutiny only for the purpose of examining large deductions/exemption claimed under various provisions including section 54F - There is nothing either in the body of assessment order or any other material available on record to suggest that the AO has enquired into the issues, for which, the case was selected for limited scrutiny. NO infirmity in the order passed u/s. 263 - Decided against assessee.
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