Revision Ordered u/s 263: AO's Inquiry Lapses on Section 57(iii) Claim Deemed Erroneous and Revenue-Prejudicial.

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....Revision u/s 263 - it is a case of lack of enquiry particularly on the issue of allowability of the claim under section 57(iii) of the Act. Thus the order of the AO suffers from error so far as it is prejudicial to the interest of the revenue.....