https://www.taxtmi.com/highlights?id=49944 PCIT has rightly invoked extraordinary revisionary powers as are enshrined in Section 263 as no inquiry, verifications and ivestiigations were made by the AO before allowing deduction of interest expenditure payments to HUF. It is not brought on record by the AO whether Karta is partner in his individual capacity albeit representing HUF or instead HUF is partner in the assessee firm directly en-us Tue, 29 Oct 2019 19:48:42 +0530 Tue, 29 Oct 2019 19:48:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=49944 PCIT has rightly invoked extraordinary revisionary powers as are enshrined in Section 263 as no inquiry, verifications and ivestiigations were made by the AO before allowing deduction of interest expenditure payments to HUF. It is not brought on record by the AO whether Karta is partner in his individual capacity albeit representing HUF or instead HUF is partner in the assessee firm directly Highlights Income Tax Tue, 29 Oct 2019 19:48:42 +0530 https://www.taxtmi.com/highlights?id=49944