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Income Tax - Highlights / Catch Notes

Home Highlights February 2021 Year 2021 This

Revision u/s 263 - the ld.AO has not conducted an inquiry which ...


Commissioner Invokes Section 263, Orders Fresh Inquiry After AO's Failure to Probe Account Discrepancies.

February 1, 2021

Case Laws     Income Tax     AT

Revision u/s 263 - the ld.AO has not conducted an inquiry which was required after taking into consideration the discrepancies in the accounts, and therefore the ld.Commissioner has rightly taken cognizance under section 263 and set aside the assessment for conducting fresh inquiry and for passing of fresh assessment order. - AT

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