Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Revision u/s 263 - Receipts against sale of plots - Mismatch between the amount disclosed by the assessee and amount shown as per 26AS - Method of accounting - When all the receipts are duly reflected in the subsequent A.Ys by following the percentage completion method. The view of the AO is a plausible view and merely because the PCIT holds a different view, then that of the AO this cannot be a ground to cancel the order of the AO being erroneous and prejudicial to the interest of Revenue. - AT
Revision u/s 263 - Receipts against sale of plots - Mismatch between the amount disclosed by the assessee and amount shown as per 26AS - Method of accounting - When all the receipts are duly reflected in the subsequent A.Ys by following the percentage completion method. The view of the AO is a plausible view and merely because the PCIT holds a different view, then that of the AO this cannot be a ground to cancel the order of the AO being erroneous and prejudicial to the interest of Revenue. - AT
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