https://www.taxtmi.com/highlights?id=60298 Revision u/s 263 by CIT - As per CIT sale of land parcels as taxed under the head "Capital Gains" - AO found that the actual sale consideration of land parcels shown as business assets/stock-in-trade in the books of accounts is lesser than the corresponding value assessable for the purposes as stamp duty - - We do not see any such material which can make the conclusion of the PCIT indefeasible - the revisional order under Section 263 of the Act is quashed and set aside - AT en-us Fri, 29 Oct 2021 05:22:26 +0530 Fri, 29 Oct 2021 05:22:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60298 Revision u/s 263 by CIT - As per CIT sale of land parcels as taxed under the head "Capital Gains" - AO found that the actual sale consideration of land parcels shown as business assets/stock-in-trade in the books of accounts is lesser than the corresponding value assessable for the purposes as stamp duty - - We do not see any such material which can make the conclusion of the PCIT indefeasible - the revisional order under Section 263 of the Act is quashed and set aside - AT Highlights Income Tax Fri, 29 Oct 2021 05:22:26 +0530 https://www.taxtmi.com/highlights?id=60298