Section 263 Revision: Pr. CIT's Claim of No AO Enquiry on Share Capital Deemed Incorrect, Based on Suspicion Only. https://www.taxtmi.com/highlights?id=63345 Revision u/s 263 - Addition u/s 68 - accepting the returned income - AO has conducted enquiry in respect of subject matter i.e. share capital and premium collected by the assessee-company. Therefore, the finding of Second Pr. CIT that the Second AO has not conducted enquiry is incorrect and is flowing from suspicion only. - AT en-us Mon, 09 May 2022 08:39:21 +0530 Mon, 09 May 2022 08:39:21 +0530 TaxTMI RSS Generator Section 263 Revision: Pr. CIT's Claim of No AO Enquiry on Share Capital Deemed Incorrect, Based on Suspicion Only. https://www.taxtmi.com/highlights?id=63345 Revision u/s 263 - Addition u/s 68 - accepting the returned income - AO has conducted enquiry in respect of subject matter i.e. share capital and premium collected by the assessee-company. Therefore, the finding of Second Pr. CIT that the Second AO has not conducted enquiry is incorrect and is flowing from suspicion only. - AT Highlights Income Tax Mon, 09 May 2022 08:39:21 +0530 https://www.taxtmi.com/highlights?id=63345