Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Revision u/s 263 - Assessee has regular dealings with these related persons/entities and necessary confirmation is on record and therefore, the findings of the ld PCIT that no documents have been filed by the assessee is not borne out of records. As regarding, the advances given by the assessee during the year, the assessee during the assessment proceedings has submitted that no advances were given during the year and therefore, the findings of the ld PCIT is again not borne out of records. - Order passed u/s 263 set aside - AT
Revision u/s 263 - Assessee has regular dealings with these related persons/entities and necessary confirmation is on record and therefore, the findings of the ld PCIT that no documents have been filed by the assessee is not borne out of records. As regarding, the advances given by the assessee during the year, the assessee during the assessment proceedings has submitted that no advances were given during the year and therefore, the findings of the ld PCIT is again not borne out of records. - Order passed u/s 263 set aside - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
