CIT can exercise power u/s. 263 to set aside non-speaking arbitrary order passed by AO

ITAT HYDERABAD BENCH ‘A’ Ninestar Enterprises (P.) Ltd. Versus Assistant Commissioner of Income-tax, Circle-16(1) IT APPEAL NO. 1054 (HYD.) OF 2011 [ASSESSMENT YEAR 2006-07] DECEMBER 31, 2012 ORDER Chandra Poojari, Accountant Member This appeal by the assessee is directed against the order of the CIT-IV, Hyderabad dated 28.3.2011 for assessment year 2006-07. 2. The assessee raised the following grounds of appeal: 1. The Revision order of learned Commissioner of Income Tax is contrary to law and the facts. 2. The ld. CIT erred in setting aside the assessment order u...