S. 263 Revision -CIT must give finding on merits & cannot simply remand to AO

S. 263 order without giving reason for observing that order passed by AO was erroneous cannot sustain

In the present case, the findings recorded by the Tribunal are correct as the CIT has not gone into and has not given any reason for observing that the order passed by the Assessing Officer was erroneous. The finding recorded by the CIT is that “order passed by the Assessing Officer may be erroneous”. The CIT had doubts about the valuation and sale consideration received but

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