https://www.taxtmi.com/caselaws?id=390516 The Tribunal upheld the revisional jurisdiction under Section 263 due to lack of inquiry by the Assessing Officer on specific issues, citing errors prejudicial to revenue. It directed verification of unsecured loans from specific parties, excluded applicability of Section 2(22)(e) on loans brought forward, ordered proper grant of TDS credit, and directed verification of professional tax payment under Section 43B. The appeal was partly allowed, with certain issues excluded from revisional assessment, and specific verification instructions provided. en-us Thu, 02 Jan 2020 00:00:00 +0530 Mon, 27 Jan 2020 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390516 The Tribunal upheld the revisional jurisdiction under Section 263 due to lack of inquiry by the Assessing Officer on specific issues, citing errors prejudicial to revenue. It directed verification of unsecured loans from specific parties, excluded applicability of Section 2(22)(e) on loans brought forward, ordered proper grant of TDS credit, and directed verification of professional tax payment under Section 43B. The appeal was partly allowed, with certain issues excluded from revisional assessment, and specific verification instructions provided. Case-Laws Income Tax Thu, 02 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390516