https://www.taxtmi.com/highlights?id=64500 Revision u/s 263 - claim of deduction of expenditure and depreciation but no revenue has been earned - Pr.CIT has directed the AO to make further enquiry on the admissibility of expenditure - Except for an endeavour to embark upon a fishing & roving enquiry, there is no merit in the order passed by ld. Pr.CIT. In our considered opinion, the basic premise on which Pr.CIT has invoked his jurisdiction u/s 263 is legally not sustainable. - AT en-us Fri, 08 Jul 2022 12:40:56 +0530 Fri, 08 Jul 2022 12:40:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=64500 Revision u/s 263 - claim of deduction of expenditure and depreciation but no revenue has been earned - Pr.CIT has directed the AO to make further enquiry on the admissibility of expenditure - Except for an endeavour to embark upon a fishing & roving enquiry, there is no merit in the order passed by ld. Pr.CIT. In our considered opinion, the basic premise on which Pr.CIT has invoked his jurisdiction u/s 263 is legally not sustainable. - AT Highlights Income Tax Fri, 08 Jul 2022 12:40:56 +0530 https://www.taxtmi.com/highlights?id=64500