Inadequate Enquiry by AO not grounds for Invoking Revisionary Powers u/s 263 of Income Tax Act: Delhi HC [Read Order]

The Delhi Court ruled that the Income Tax Act of 1961's Section 263 could not be invoked only because the AO's investigation into some claims was inadequate
Delhi High Court - Income Tax - Inadequate Enquiry - Assessing Officer - TAXSCAN

In a significant case the Delhi High Court held that inadequacy of enquiry by the AO with the certain claims would not in itself be a reason to invoke the powers enshrined in Section 263 of the Income Tax  Act,1961 The respondent Clix Finance India Pvt. Ltd is a Non-Banking Financial Company [ “NBFC” ] engaged in…

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