Revision u/s 263 - Period of limitation - doctrine of merger - The revision is on the basis that the AO...

Revision u/s 263 - Period of limitation - doctrine of merger - The revision is on the basis that the AO has failed to, in view of the frequent transactions of purchase and sale of land during the year, as well as in the immediately preceding and succeeding year, as also the fact that the sales are to real estate developer, failed to investigate further, making proper inquiries, from the stand point that the income from these transactions is liable to be assessed as business income, i.e., as agai..... .....

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