Revision Order Overturned: Section 263 Applied Incorrectly as AO Conducted Necessary Inquiry Despite Lack of Discussion in Order. https://www.taxtmi.com/highlights?id=72143 Revision u/s 263 - Applicability of provisions of 56(2)(vii)(b) - Documentary evidence available in the records which the AO admits to have verified the veracity thereof amply demonstrate that the AO made the requisite enquiry. If that be so, a mere non-discussion or non-mention thereof in the assessment order could not lead to assumption that the AO did not apply his mind or that he had not made inquiry on the issue. - Revision order set aside - AT en-us Thu, 21 Sep 2023 13:39:35 +0530 Thu, 21 Sep 2023 13:39:35 +0530 TaxTMI RSS Generator Revision Order Overturned: Section 263 Applied Incorrectly as AO Conducted Necessary Inquiry Despite Lack of Discussion in Order. https://www.taxtmi.com/highlights?id=72143 Revision u/s 263 - Applicability of provisions of 56(2)(vii)(b) - Documentary evidence available in the records which the AO admits to have verified the veracity thereof amply demonstrate that the AO made the requisite enquiry. If that be so, a mere non-discussion or non-mention thereof in the assessment order could not lead to assumption that the AO did not apply his mind or that he had not made inquiry on the issue. - Revision order set aside - AT Highlights Income Tax Thu, 21 Sep 2023 13:39:35 +0530 https://www.taxtmi.com/highlights?id=72143