AZB And Partners Vs PCIT (ITAT Mumbai)The Tribunal held that mere inadequacy of enquiry by the AO cannot justify invoking Section 263. AO”), order passed under section 143(3) read with section 144B of the Act, date of order 24/09/2022. PCIT held the assessment order to be erroneous and prejudicial to the interests of the revenue and set aside the impugned assessment order for verification. He submitted that inadequate enquiry cannot be equated with lack of enquiry; hence, section 263 of the Act cannot be invoked in case of inadequate enquiry. AO, after considering the said submissions, which are duly noted in the assessment order, accepted the assessee’s explanation.