2024 (11) TMI 973

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..... d as the firm had no funds, assessee sold the land - As decided in HC [ 2022 (10) TMI 1120 - KARNATAKA HIGH COURT] merely because two plausible views are available and the AO has taken one view, the jurisdiction u/s 263 cannot be exercised. Invoking Section 263 in the facts and circumstances of the case was erroneous. Land was purchased and sold without any development, no elaborate enquiry was re .....

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