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ITAT upheld PCIT's revision order under Section 263, finding the AO erred in not thoroughly examining undisclosed cash income. The tribunal confirmed that merely disclosing and paying tax does not absolve the assessee from Section 69A requirements. The AO's failure to conduct independent inquiry into the source of income and apply Sections 115BBE, 269ST, and 271DA rendered the original assessment order erroneous and prejudicial to revenue interests. Consequently, the PCIT's order was valid, and both assessee appeals were dismissed.
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