Invocation of revisionary power u/s 263 unsustainable as inquiry was duly conducted by AO

Tirath Dass Vs PCIT (ITAT Delhi) ITAT Delhi held that invocation of revisionary power u/s. 263 of the Income Tax Act unsustainable as Assessing Officer duly carried out all the inquiry before passing assessment order u/s. 143(3) of the Income Tax Act. Facts- Survey u/s. 133A of the Act was carried out at the premises of the assessee, proprietor of M/s. Fancy Jewellers, Haryana wherein an additional income of Rs. 90,63,000/- was admitted by the assessee on account of unexplained cash and stock. The assessee filed his return declaring income of Rs. 94,60,870/-. The case of the assessee was sele...