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TMI Blog2024 (7) TMI 1500X X X X Extracts X X X X X X X X Extracts X X X X ..... e interests of the revenue, he may, after giving the assessee an opportunity of being heard and after making or causing to be made such inquiry as he deems necessary, pass such order. The order of the Pr. CIT, therefore, necessarily would require to explain i.e. record reasons to exercise the power under Section 263 of the Act, 1961 to say that the order was prejudicial to the interest of Revenue. However, in case in hand after that proceedings were initiated, the enquiry was conducted and during such enquiry the reply and the documents were placed by assessee. Section 263 makes it incumbent to the Pr. CIT to conduct enquiry. The enquiry means not to shelve the reply and the documents but to deliberate upon it and the same cannot be set asi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee was to act as an agency to facilitate collection, storage, processing and disposal of specified forest produce and to act as a coordinator. 2. The documents filed along with this appeal would show that a revision proceeding was drawn under Section 263 of the Income Tax Act, 1961 (hereinafter referred to as the Act, 1961 ) by the Principal Commissioner of Income Tax, Raipur-1 (hereinafter referred to as the Pr. CIT). The order of the Pr. CIT dated 30/03/2021 would show that pursuant to the notice issued a detailed reply was filed by the appellant and thereafter the learned Pr. CIT was pleased to dispose of the revision by order dated 30/03/2021 and the relevant part is reproduced hereinbelow:- 5. I have gone through the case record and su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the documents wherein everything was explained, but in a cryptic manner the order has been passed and the learned ITAT too failed to take into cognizance. 5. We went through the record and the orders of the Pr. CIT and the ITAT. Prima facie, it do not satisfy us, therefore, we admit the appeal on the following question of law:- A. Whether the ITAT in confirming the order of learned Principal Commissioner of Income Tax passed under Section 263 of the Act, 1961, whereby the assessment order was set aside without looking into the defence raised and application of mind. 6. We went through the reply which was filed by the assessee before the Pr. CIT while power of revision was exercised. Section 263 of the Act, 1961 gives power to the Principa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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