CIT cannot exercise Revisionary power u/s 263 merely because he has different opinion on the matter

Poonam Bhotika Vs Income Tax Officer (ITAT Kolkata)

Provision of Section 263 of the Act does not give any power whatsoever to the Ld. CIT to remit the issue to the file of AO without finding that the order of AO is erroneous in so far as prejudicial to the interest of revenue.  Hon’ble Delhi High Court in the case of CIT vs. Sunbeam Auto Limited reported in 332 ITR 167 (Del) held as under:-

“One has to keep in mind the distinction between ‘lack of inquiry’ and ‘inadequate inquiry’. If there was any inquiry, even inadequate, that would not

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