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TMI Blog2014 (7) TMI 1003X X X X Extracts X X X X X X X X Extracts X X X X ..... e finding that the assessment order restricting disallowance under Section 14A to ₹ 45,07,413/- was erroneous and incorrect – order of the Tribunal upheld – Decided against Revenue. Loans/assets written off – Held that:- Once inquiries were conducted and a decision was reached by the AO, it cannot be said that it was a case of no inquiry - the Commissioner must reach a finding that the fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sanjiv Khanna And V. Kameswar Rao,JJ. For the Appellant : Mr. Kamal Sawhney, Sr. Standing Counsel with Mr. Sanjay Kumar, Jr. Standing Counsel For the Respondent : Through ORDER Sanjiv Khanna, J. (Oral) Having heard learned counsel for the Revenue in this appeal against the order of the tribunal dated 25th October, 2013, quashing the order under Section 263 of the Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the figures taken by the Commissioner were incorrect. Without pronouncing whether the figures given by the assessee were incorrect, the Commissioner recorded that this required verification from the records and, therefore, the assessment order to this extent should be set aside for fresh examination. This is impermissible and cannot be allowed under Section 263 as the Commissioner must reach t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvestigation, but accepted the contention of the assessee. Commissioner observed, therefore, meaningful inquiry should be conducted . This does not meet the requirement that the decision of the Assessing Officer should be erroneous. Once inquiries were conducted and a decision was reached by the Assessing Officer, it cannot be said that it was a case of no inquiry. In such cases, the Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er had not made any inquiries, but that the Assessing Officer had not properly applied his mind and deliberated upon the issue. This again does not meet the statutory requirement that the order passed by the Assessing Officer was erroneous. Once inquiries were held and the Assessing Officer formed a belief, the finding/opinion formed can be set aside only when it is erroneous and not because no in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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