https://www.taxtmi.com/highlights?id=60853 Revision u/s 263 by CIT - bogus loss on shares - penny stock transactions - Reliance on audit objection given by the audit party - As safely concluded that the ld. AO had indeed taken a possible view on the matter. PCIT merely because he has got a different view on the same set of facts cannot try to substitute his view in place of the view already taken by the ld. AO by invoking his revision jurisdiction u/s.263. - AT en-us Thu, 09 Dec 2021 08:36:04 +0530 Thu, 09 Dec 2021 08:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60853 Revision u/s 263 by CIT - bogus loss on shares - penny stock transactions - Reliance on audit objection given by the audit party - As safely concluded that the ld. AO had indeed taken a possible view on the matter. PCIT merely because he has got a different view on the same set of facts cannot try to substitute his view in place of the view already taken by the ld. AO by invoking his revision jurisdiction u/s.263. - AT Highlights Income Tax Thu, 09 Dec 2021 08:36:04 +0530 https://www.taxtmi.com/highlights?id=60853