2023 (5) TMI 879

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....ed against the order of the Principal Commissioner of Income-tax, Muzaffarnagar, dated 27.03.2018 passed u/s 263 of the Income-tax Act, 1961, pertaining to the assessment year 2013-14. The assessee has raised following grounds of appeal: "1. The order under section 263 made by the Ld Pr.CIT is bad in law having been made without carrying out any inquiry or verification of information. 2. The N....

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....3-14 the assessee, an individual, filed his return on 30.09.2013, declaring income at Rs. 10,21,070/-. The AO completed the assessment u/s 143(3) of the Income-tax Act, 1961 (the "Act"), vide order dated 29.03.2016, at an income of Rs. 21,96,770/- after making addition on account of income from undisclosed sources. Subsequently, on examination of records, the Pr. CIT noticed that the AO had comple....

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....aterial available on record the Ld. Pr CIT vide order dated 27.03.2018 u/s 263 of the Act set aside the assessment being erroneous and prejudicial to the interest of the Revenue, with directions to AO to pass fresh assessment order in accordance with law. Aggrieved, the assessee is in appeal before this Tribunal. 3. At the time of hearing no one attended the proceedings on behalf of the assessee ....