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2018 (1) TMI 180 - ITAT KOLKATARevision u/s 263 - disallowance u/s 40A(3) - Held that:- On verification of the cash book and ledgers of the assessee, the ld AO had disallowance u/s 40A(3) of the Act for making payments exceeding ₹ 20,000/- otherwise than by an account payee cheque or account payee bank draft. This has been done by the ld AO after verifying the transactions in all the parties account as could be evident from the list furnished in the assessment order by him. Hence the entire aspect of purchases had been duly verified by the ld AO from all angles and the ld AO had taken one of the plausible views on the said issue. Admittedly, the assessee had challenged the said disallowance u/s 40A(3) of the Act before the ld CITA which is pending. We hold that the very same issue cannot be the subject matter of revision proceedings u/s 263 of the Act looking the same from different perspective. This in our considered opinion, only tantamounts to ld CIT trying to substitute his own opinion, in the opinion already framed by the ld AO, which is not permissible u/s 263 of the Act. Moreover, we find that the ld CIT had not brought on record how the order passed by the ld AO was erroneous. He had only directed the ld AO to make further enquiries by expanding its scope, to find out whether error had crept in in the earlier order. This, in our considered opinion, is not permissible in the revisionary proceedings u/s 263 of the Act by the ld CIT. - Decided in favour of assessee
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