https://www.taxtmi.com/caselaws?id=762275 ITAT Delhi allowed the assessee's appeal and set aside the CIT's revision order u/s 263. The tribunal found that the AO had issued multiple notices on all issues raised by PCIT, received relevant information from the assessee, and completed assessment after taking one of the possible views. Despite PCIT's contention that AO failed to conduct proper verification on 11 issues, the tribunal observed that AO had duly verified various matters and made informed decisions. Relying on Clix Finance India case, ITAT concluded that PCIT's invocation of Explanation 2 to section 263 was unjustified since AO had conducted necessary enquiries and verification before passing the assessment order. en-us Tue, 26 Nov 2024 00:00:00 +0530 Wed, 27 Nov 2024 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762275 ITAT Delhi allowed the assessee's appeal and set aside the CIT's revision order u/s 263. The tribunal found that the AO had issued multiple notices on all issues raised by PCIT, received relevant information from the assessee, and completed assessment after taking one of the possible views. Despite PCIT's contention that AO failed to conduct proper verification on 11 issues, the tribunal observed that AO had duly verified various matters and made informed decisions. Relying on Clix Finance India case, ITAT concluded that PCIT's invocation of Explanation 2 to section 263 was unjustified since AO had conducted necessary enquiries and verification before passing the assessment order. Case-Laws Income Tax Tue, 26 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762275