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Revision u/s 263 can be invoked when there was lack of enquiry by AO
Case Law Details
- Case Name
- Radiant Life Care Mumbai Pvt. Ltd Vs PCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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Radiant Life Care Mumbai Pvt. Ltd Vs PCIT (ITAT Mumbai)
Conclusion: Since AO had merely asked the assessee for filing information in respect of the grounds on which the case was selected and no meaningful enquiry had been carried out by the AO on the information filed by the assessee, therefore, revision under section 263 by CIT was justified.
Held Assessee-company entered into an operation and management agreement for acquiring the Operation & Management Rights of “M/s Nanavati Hospital” for 29 years and paid an amount of Rs.25 crores as a non-refundable deposit a...
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