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| The Tax Publishers2021 TaxPub(DT) 3796 (Sur-Trib) INCOME TAX ACT, 1961
Section 263
During assessment proceedings, AO has raised query regarding deduction claimed by assessee under section 80-IA and assessee replied that query. The assessee submitted before AO details of income earned and expenses incurred during the year from wind mills. Thereafter, AO examined the details and documents submitted by assessee, therefore, adequate enquiry was made by AO and hence, order passed by AO was neither erroneous nor prejudicial to the interest of revenue.
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Revision under section 263 - Erroneous and prejudicial order - No lack of enquiry on AO's part -
Pr. CIT treated order passed by AO as erroneous and prejudicial to the interest of revenue on the ground that AO failed to verify quantum of deduction available to assessee under section 80-IA in respect of profits derived from generation of power from windmill unit. Held: During assessment proceedings, AO has raised query regarding deduction claimed by assessee under section 80-IA and assessee replied that query. The assessee submitted before AO details of income earned and expenses incurred during the year from wind mills. Thereafter, AO examined the details and documents submitted by assessee, therefore, adequate enquiry was made by AO and hence, order passed by AO was neither erroneous nor prejudicial to the interest of revenue.
Relied:CIT v. Sunbeam Auto Ltd. (2010) 332 ITR 167 (Del-HC) : 2011 TaxPub(DT) 88 (Del-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2013-14
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