Section 263: Commissioner's powers don't make A.O.'s order erroneous despite lack of verification on share application money.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Revisionary powers of Commissioner u/s 263 - Order of the A.O. cannot be regarded as erroneous even if he had failed to carry out necessary verification and required enquiries in respect of the share application money, as no addition has been made on account of the reasons for reopening i.e. investment in FDR, which were recorded before issue of notice u/s 148..... - HC....