Held that the order passed by the Assessing Officer after considering the explanation of the assessee. NSEL has not responded to the letter issued by the Assessing Officer u/s 133(6) for the alleged sales out of book. The Tribunal held that the view of the Assessing Officer is possible view hence the revision is bad in law and quashed. (AY. 2014-15)
Namdhari Rice & General Mills v. PCIT(2023) 221 TTJ 784 (Chd)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Lack of enquiry-Sales through NSEL-Alleged out of book sales-NSEL has not responded to the letter issued by the Assessing Officer u/s 133(6)-Possible view-Revision is bad in law and quashed. [S. 133(6), 143(3)]