Revisional power u/s 263 of Income Tax Act not exercisable in case of inadequate enquiry

Jakhau Salt Co. P. Ltd. Vs DCIT (ITAT Chennai)

ITAT Chennai held that revisional power u/s 263 of the Income Tax Act exercisable only in case of lack of enquiry and not in case of inadequate enquiry.

Facts- Post completion of scrutiny assessment, the case of the assessee was taken up for revision proceedings and accordingly, show cause notice u/s.263 of the Act was issued.

In the said show cause notice, the PCIT observed that on perusal

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