Case Law Details
Case Name : Madhu Velayudhan Vs ITO (ITAT Hyderabad)
Related Assessment Year : 2015-16
Courts :
All ITAT ITAT Hyderabad
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Madhu Velayudhan Vs ITO (ITAT Hyderabad)
ITAT Hyderabad held that AO has neither made any enquiry nor asked any questions to the assessee nor any information was called for. Therefore, the order passed by AO was erroneous and prejudicial to the interest of revenue within the meaning of section 263 of the Income Tax Act.
Facts-
PCIT on perusal of record noted that as the assessee kept the purchased plants in the laboratory for further gro
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