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2021 (2) TMI 1264 - ITAT DELHIRevision u/s 263 by CIT - Proof of lack of enquiry - HELD THAT:- Hon'ble Bombay High Court in the case of Gabriel India Ltd. [1993 (4) TMI 55 - BOMBAY HIGH COURT] has explained the meaning of "erroneous" as an order which is not in accordance with law, or which has been passed by the Income Tax Officer without making any enquiry in undue haste. The Hon'ble Bombay High Court further explained the meaning of "Prejudiced" as "an order can be said to be prejudicial to the interest of the Revenue if it is not in accordance with law in consequence whereof, lawful revenue due to the state has not be realized or cannot be realized." Facts mentioned elsewhere clearly show that this is not a case of lack of enquiry or assessment being framed in haste. Proper enquiries were made by the Assessing Officer during the course of assessment proceedings and after considering all the facts and evidences, the Assessing Officer took a view which is a plausible view. Therefore, it is not open to the ld. PCIT to direct a re-enquiry as he is of a different view. We are of the considered opinion that the assessment order dated 26.12.2018 is neither erroneous nor prejudicial to the interest of the Revenue. - Decided in favour of assessee.
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