CIT cannot fault an assessment order without his own inquiry

In the case of Former Chief Minister of Maharashtra Narayan Rane ITAT Mumbbai held that before holding an order to be erroneous, Ld Pr. CIT should have conducted necessary enquiries or verification in order to show that the finding given by the assessing officer is erroneous, the Ld Pr. CIT should have shown that the view taken by the AO is unsustainable in law. It further held that there is doubt whether Explanation 2(a) to sec. 263, inserted by Finance Act 2015 w.e.f. 01.04.2015 has retrospective effect. In the instant case, the assessing officer has reopened the assessment only to assess th...