https://www.taxtmi.com/caselaws?id=310900 ITAT Indore allowed the assessee's appeal against Pr. CIT's revision order u/s 263. The Tribunal held that the revision order violated principles of natural justice by providing only seven days to respond to the show cause notice. The AO had conducted adequate inquiry by issuing notices u/s 142(1) and examining the assessee's detailed replies with supporting evidence. The Tribunal found no complete lack of inquiry, as the AO was satisfied with explanations regarding income discrepancies and expenditure claims. Since the AO's view was not impermissible under law, Pr. CIT could not invoke section 263 merely due to disagreement with the AO's assessment. en-us Tue, 11 Jul 2023 00:00:00 +0530 Thu, 23 Nov 2023 19:53:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310900 ITAT Indore allowed the assessee's appeal against Pr. CIT's revision order u/s 263. The Tribunal held that the revision order violated principles of natural justice by providing only seven days to respond to the show cause notice. The AO had conducted adequate inquiry by issuing notices u/s 142(1) and examining the assessee's detailed replies with supporting evidence. The Tribunal found no complete lack of inquiry, as the AO was satisfied with explanations regarding income discrepancies and expenditure claims. Since the AO's view was not impermissible under law, Pr. CIT could not invoke section 263 merely due to disagreement with the AO's assessment. Case-Laws Income Tax Tue, 11 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310900