If there is lack of enquiry on part of A.O., provisions of section 263 can be applied

ITAT AGRA BENCH, AGRA (THIRD MEMBER) Shiva Automobiles Vs ITO, APPEAL NO: ITA No. 110/Agr./2006,    April 13, 2010  ORDER PER P.K. BANSAL, A.M.: In this case the difference arose between the Members of the Division Bench hearing this appeal. Therefore, the matter was referred to the opinion of the ld. Third Member. The ld. Third Member has agreed with the view of the ld. Accountant Member. Therefore, in view of the majority decision, the assessee’s appeal is partly allowed. 2. In the result, appeal of the assessee is treated as allowed in part. (Order pronounced in the open Court o...