A mere non discussion or non mention in assessment order would not justify sec 263

Hon’ble Allahabad High Court in the case of  CIT V/s M/S Krishna Capbox (P) Ltd in Income Tax Appeal No. 1 of 2015 has held that a mere non discussion or non mention in assessment order would not justify section 263 to be applied. Brief facts of the case are that the assessee filed his return for assessment year 2008-09 on 28.9.2008 declaring income of Rs.8,14,647/-,The case was selected for scrutiny. The Assesing Authority made certain queries, which were replied by assessee and after inquiry, Assessing Officer, being satisfied in respect to the queries replied by assessee,accepted hi...