https://www.taxtmi.com/caselaws?id=269673 The court dismissed the petition seeking to quash the order dismissing the revision petition under section 264 of the Income Tax Act, 1961. The petitioner failed to provide satisfactory explanations for sources of credit entries related to a transaction, leading to the addition of Rs. 1.20 crores to the total income. Despite opportunities, the petitioner did not produce essential information or evidence, resulting in the rejection of the petition. The court emphasized the importance of establishing a factual matrix with material evidence before authorities and rejected the request for a de novo trial. The writ petition was dismissed due to the limitations of writ jurisdiction in cases involving disputed questions of fact. en-us Thu, 29 Oct 2015 00:00:00 +0530 Fri, 18 Nov 2016 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269673 The court dismissed the petition seeking to quash the order dismissing the revision petition under section 264 of the Income Tax Act, 1961. The petitioner failed to provide satisfactory explanations for sources of credit entries related to a transaction, leading to the addition of Rs. 1.20 crores to the total income. Despite opportunities, the petitioner did not produce essential information or evidence, resulting in the rejection of the petition. The court emphasized the importance of establishing a factual matrix with material evidence before authorities and rejected the request for a de novo trial. The writ petition was dismissed due to the limitations of writ jurisdiction in cases involving disputed questions of fact. Case-Laws Income Tax Thu, 29 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269673