2023 (3) TMI 1480 - HC - Income Tax

Validity of Revision u/s 263 - ITAT has set aside the said order of the Principal CIT as noted this is not a case of inadequacy of enquiry. It is a case of absence of enquiry - HELD THAT - The view taken by the ITAT appears to be a plausible one and not erroneous in law. Consequently, the Court is not satisfied that any substantial question of law arises. The appeal is dismissed.

Summary

The High Court of Orissa dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision to allow the Assessee's appeal for the assessment year 2009-10. The Tribunal set aside the Principal CIT's order under Section 263 of the Income Tax Act, noting the absence of enquiry before directing a fresh assessment. The High Court found the Tribunal's decision plausible and not erroneous in law, leading to the dismissal of the appeal.