Tribunal held that this was not a case of no enquiry by the Assessing Officer. Nor had the Commissioner conducted the enquiry himself so as to record the finding that the assessment order was erroneous. Commissioner has set aside the order and directed the Assessing Officer to conduct the enquiry which was not sustainable in the eyes of law. The order passed under section 263 was not sustainable.( AY.2014-15)
Seth Madan Lal Palriwala Foundation v. CIT (E) (2020)78 ITR 436 / 196 DTR 169( Delhi) (Trib)
S. 263 : Commissioner – Revision of orders prejudicial to revenue – Source of funds from abroad —Commissioner not conducting enquiry to find order erroneous and prejudicial to revenue — Revision not valid.