CIT Revises Assessment u/s 263 Due to AO's Inadequate Inquiry; Section 68 Proviso Applied Retrospectively. https://www.taxtmi.com/highlights?id=26585 Revision u/s 263 - Addition u/s 68 - AO did not make befitting inquiry in the given circumstances and the CIT has held the assessment order to be erroneous and prejudicial to the interest of the revenue - order of revision and additions confirmed - insertion of proviso to section 68 is retrospective. - AT en-us Thu, 24 Dec 2015 13:52:13 +0530 Thu, 24 Dec 2015 13:52:13 +0530 TaxTMI RSS Generator CIT Revises Assessment u/s 263 Due to AO's Inadequate Inquiry; Section 68 Proviso Applied Retrospectively. https://www.taxtmi.com/highlights?id=26585 Revision u/s 263 - Addition u/s 68 - AO did not make befitting inquiry in the given circumstances and the CIT has held the assessment order to be erroneous and prejudicial to the interest of the revenue - order of revision and additions confirmed - insertion of proviso to section 68 is retrospective. - AT Highlights Income Tax Thu, 24 Dec 2015 13:52:13 +0530 https://www.taxtmi.com/highlights?id=26585