https://www.taxtmi.com/caselaws?id=404758 The Court dismissed the petition challenging the revision order under Section 264 of the Income Tax Act, 1961, related to the scrutiny assessment for AY 2011-12. The petitioner failed to maintain and audit books of accounts and did not disclose income from two concerns. Despite allegations of fictitious transactions, the assessing officer's inquiries were supported by confirmations from three companies, the 26AS statement, and TDS certificates. The revisional authority's reliance on these documents was upheld, as the petitioner provided no contrary evidence. The Court found no basis for remanding the case for further verification. en-us Thu, 25 Feb 2021 00:00:00 +0530 Wed, 13 Dec 2023 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404758 The Court dismissed the petition challenging the revision order under Section 264 of the Income Tax Act, 1961, related to the scrutiny assessment for AY 2011-12. The petitioner failed to maintain and audit books of accounts and did not disclose income from two concerns. Despite allegations of fictitious transactions, the assessing officer's inquiries were supported by confirmations from three companies, the 26AS statement, and TDS certificates. The revisional authority's reliance on these documents was upheld, as the petitioner provided no contrary evidence. The Court found no basis for remanding the case for further verification. Case-Laws Income Tax Thu, 25 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404758