https://www.taxtmi.com/highlights?id=58423 Revision u/s 263 - non application of mind by AO on search figures of income - PCIT has not brought any material to justify the alleged income of ₹ 210 crores. Thus, we note that allegation made by the ld PCIT is based merely on suspicion and conjecture. A mere observation that no proper details have been obtained, cannot be sufficient to come to a conclusion that the assessing officer did not make proper and adequate inquiries which he ought to have made in the given facts and circumstances of this case. - AT en-us Sat, 19 Jun 2021 13:02:22 +0530 Sat, 19 Jun 2021 13:02:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58423 Revision u/s 263 - non application of mind by AO on search figures of income - PCIT has not brought any material to justify the alleged income of ₹ 210 crores. Thus, we note that allegation made by the ld PCIT is based merely on suspicion and conjecture. A mere observation that no proper details have been obtained, cannot be sufficient to come to a conclusion that the assessing officer did not make proper and adequate inquiries which he ought to have made in the given facts and circumstances of this case. - AT Highlights Income Tax Sat, 19 Jun 2021 13:02:22 +0530 https://www.taxtmi.com/highlights?id=58423