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| The Tax Publishers2020 TaxPub(DT) 0518 (Kol-Trib) INCOME TAX ACT, 1961
Section 263
As evident from letter issued by AO and reply filed by assessee during assessment proceedings, inquiry on the issue of VAT refund was specifically made by AO and after having satisfied himself with submission made by assessee explaining of VAT refund, which was duly verified by AO from books of account produced by assessee, claim of assessee for VAT refund was accepted by AO. Thus, it was not a case of lack of inquiry or lack of proper and sufficient inquiry by AO as alleged by Pr. CIT and assessment order could not be treated as erroneous and prejudicial on this point.
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Revision under section 263 - Erroneous and prejudicial order - No lack of enquiry as alleged by Pr.CIT -
Pr.CIT held order passed by AO to be erroneous as well as prejudicial to the interest of the revenue on the ground that claim of assessee relating to VAT refund was accepted by AO without making any inquiry.Held: As evident from letter issued by AO and reply filed by assessee during assessment proceedings, inquiry on the issue of VAT refund was specifically made by AO and after having satisfied himself with submission made by assessee explaining of VAT refund, which was duly verified by AO from books of account produced by assessee, claim of assessee for VAT refund was accepted by AO. Thus, it was not a case of lack of inquiry or lack of proper and sufficient inquiry by AO as alleged by Pr. CIT and assessment order could not be treated as erroneous and prejudicial on this point.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2013-14
INCOME TAX ACT, 1961
Section 263
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