2024 (2) TMI 694

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....d 13.12.2017 as erroneous and prejudicial to the interest of the revenue on the ground that the order was passed without making inquiries/verification which should have been made. Such assumption of power by the Ld. Pr. CIT is not proper in absence of any minimal inquiry conducted by the Ld. Pr. CIT to support his finding that the order under revision is prejudicial to the interest of revenue and erroneous. 2. The appellant craves leave to add, amend, and alter any or more grounds of objection before or at the time of hearing of the appeal. 3. That the facts and circumstances of the case, the impugned revision order passed by the Ld. Pr. CIT under Section 263 of the Act dated 21.03.2021 revising/canceling the assessment order dated 13.1....

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.... case justify, 2[including,- (i) an order enhancing or modifying the assessment or cancelling the assessment and directing a fresh assessment; or (ii) an order modifying the order under section 92CA; or (iii) an order cancelling the order under section 92CA and directing a fresh order under the said section]. Explanation 1.-For the removal of doubts, it is hereby declared that, for the purposes of this sub-section,- (a) an order passed on or before or after the 1st day of June, 1988 by the Assessing Officer 1[or the Transfer Pricing Officer, as the case may be,] shall include- (i) an order of assessment made by the Assistant Commissioner or Deputy Commissioner or the Income-tax Officer on the basis of the directions issued by th....

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....eemed to be erroneous in so far as it is prejudicial to the interests of the revenue, if, in the opinion of the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner,- (a) the order is passed without making inquiries or verification which should have been made; (b) the order is passed allowing any relief without inquiring into the claim; (c) the order has not been made in accordance with any order, direction or instruction issued by the Board under section 119; or (d) the order has not been passed in accordance with any decision which is prejudicial to the assessee, rendered by the jurisdictional High Court or Supreme Court in the case of the assessee or any other person. 3[Explanation 3.-For....