Revision u/s 263 upheld as AO failed to make necessary enquiries: ITAT Pune

Grant Medical Foundation Vs CIT Exemption (ITAT Pune) ITAT Pune held that revisionary proceedings under section 263 of the Income Tax Act rightly invoked since AO failed to make necessary enquiries and verification. Accordingly, revisionary proceedings upheld and appeal of assessee dismissed. Facts- The assessee is a registered trust. It also qualifies for exemption u/s 10(23C)(via) of the Act vide order of the Chief Commissioner of Income Tax, Pune dated 30.10.2009. AO passed the order u/s 143(3) r.w.s 143(3A) & 143(3B) of the Act on 08.04.2021 determining total income at Nil after making...