Revisional power u/s 263 of Income Tax Act not invocable in case of ‘inadequate inquiry’

Saif Partners India IV Limited Vs CIT (ITAT Delhi) ITAT Delhi held that revisional power under section 263 of the Income Tax Act not invocable in case of ‘inadequate inquiry’, in fact, revisional power is invocable only in case of ‘lack of inquiry’. Facts- This appeal by the assessee is preferred against the order dated 27.03.2022 framed u/s 263 of the Income-tax Act, 1961 by the CIT, International Taxation, Delhi -3 pertaining to Assessment Year 2017-18. The sum and substance of the grievance of the assessee is that the ld. CIT(A) erred in assuming jurisdiction u/s 263 of the Act and ...