https://www.taxtmi.com/highlights?id=78238 The Appellate Tribunal considered a case involving a revision u/s 263 regarding the allowability of provisions claimed by the assessee. The Principal Commissioner of Income Tax (PCIT) found the Assessing Officer's (AO) order to be erroneous and prejudicial to revenue due to lack of inquiry on the AO's part. The Tribunal noted that the AO did not apply his mind to the issues raised, rendering the assessment order flawed. The Tribunal upheld the PCIT's decision, emphasizing the importance of proper inquiry by the AO. The Tribunal dismissed the assessee's appeals concerning capital expenditure on LAN network and electrical expenses, directing the AO to verify if the disallowance was made by the assessee. en-us Fri, 07 Jun 2024 08:14:06 +0530 Fri, 07 Jun 2024 08:14:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78238 The Appellate Tribunal considered a case involving a revision u/s 263 regarding the allowability of provisions claimed by the assessee. The Principal Commissioner of Income Tax (PCIT) found the Assessing Officer's (AO) order to be erroneous and prejudicial to revenue due to lack of inquiry on the AO's part. The Tribunal noted that the AO did not apply his mind to the issues raised, rendering the assessment order flawed. The Tribunal upheld the PCIT's decision, emphasizing the importance of proper inquiry by the AO. The Tribunal dismissed the assessee's appeals concerning capital expenditure on LAN network and electrical expenses, directing the AO to verify if the disallowance was made by the assessee. Highlights Income Tax Fri, 07 Jun 2024 08:14:06 +0530 https://www.taxtmi.com/highlights?id=78238