An order not become erroneous & prejudicial to interest of Revenue merely because it is cryptic

Shakti Basmati Rice (P) Ltd. Vs PCIT (ITAT Delhi) When the Assessing Officer has conducted proper enquiry and the assessee has furnished all documentary evidences and has offered proper explanation for the low net profit shown, merely because, the assessment order is cryptic one without discussing in detail the nature of enquiry conducted and the evidences furnished by the assessee, it cannot be said that the order is erroneous and prejudicial to the interest of Revenue. Reading of the impugned order of learned PCIT would reveal that he has considered the assessment order to be erroneous and p...