Where assessment order was based on inadequate or improper enquiry, CIT can invoke jurisdiction u/s 263

Brief of the case:

In the case of PVS Multiplex (India) Ltd. Vs. CIT Delhi Bench of ITAT held that CIT can pass order u/s 263 where he can hold that AO did not made adequate inquiry. ITAT observed that there is difference between “lack of enquiry” and Inadequate Inquiry”. ITAT held that the revenue does not have any right to appeal to the first appellate authority against an order passed by the Assessing Officer. Section 263 has been enacted to empower the CIT to exercise power of revision and revise any

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