TMI Blog2024 (3) TMI 523X X X X Extracts X X X X X X X X Extracts X X X X ..... but also filed the details such as the billing cycle of each house except any few cases as well as consumption which differs from particular family to any other family. This was also reflected in cost audit report which was allowed by the Revenue in earlier assessment year and subsequent assessment year as well. AO has taken cognizance of the records of the assessee such as the details of the consumption units and its audit report along with the submissions of the assessee during assessment proceedings. Thus, this cannot be called as limited verification of the factual aspect of the assessee s claim. Besides this, the Pr. CIT has not demonstrated in the revisionary power as to how this assessment order is erroneous or prejudicial to the in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d PCIT erred in law and in fact in holding that the order passed by the Assessing Officer u/s. 143(3) is erroneous and prejudicial to the interest of revenue despite the fact that the order passed by the learned AO was after due verification of the issue and that the order has been passed after due application of mind and based on one of the possible views. 5. The learned PCIT erred in law and in fact in setting aside the order by exercising the jurisdiction u/s 263 without appreciating the facts that the impugned loss on accent of shortage of PNG was on accounts of various commercial and economic factory and same are duly demonstrated by the Appellant by filing necessary evidence in the course of assessment. 6. Your Appellant craves the ri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rejudicial to the interest of the Revenue. Thus, Pr. CIT set aside the assessment order with a direction to the Assessing Officer to pass fresh assessment order after taking into consideration the issues. 4. Being aggrieved by the order passed u/s. 263 by the Pr. CIT, the assessee is before us. 5. The ld. A.R. submitted that during the course of regular assessment proceedings, the assessee has filed the detailed reply for the shortage as there was a specific query raised by the Assessing Officer during the assessment proceedings recording the same. The ld. A.R. submitted that the Assessing Officer has properly made the verification and in fact the assessee has given why the bills raised and the actual consumption differs in few cases. The l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Officer to pass fresh assessment order. The ld. D.R. relied upon the order of the Pr. CIT. 7. We have heard both the parties and perused all the relevant materials available on record. During the hearing, the ld. A.R. submitted that the details relating to claim of furnishing of PNG was accepted by the Revenue in the earlier assessment as well as in the subsequent assessment years. The assessee is following this as per his business exigencies and therefore there is a shortage of PNG for the assessee not only has given the explanation during the assessment proceedings but also filed the details such as the billing cycle of each house except any few cases as well as consumption which differs from particular family to any other family. This ..... X X X X Extracts X X X X X X X X Extracts X X X X
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