https://www.taxtmi.com/highlights?id=64050 Revision u/s 263 by CIT - substantial increase in the capital account - In the present case the Ld. Pr. CIT on the one hand mentioned that the assessee did not provide details of substantial increase in capital in a year, on the other hand, she mentioned that the reply was furnished by the assessee relating to addition in capital account which was reproduced in para 6 of the impugned order. In the present case, it cannot be said that the AO did not make inquiries / verification relating to increase in capital account of the assessee as alleged by the Ld. Pr. CIT. - it cannot be said that the order passed by the AO was erroneous or prejudicial to the interest of the Revenue - AT en-us Tue, 14 Jun 2022 08:29:43 +0530 Tue, 14 Jun 2022 08:29:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=64050 Revision u/s 263 by CIT - substantial increase in the capital account - In the present case the Ld. Pr. CIT on the one hand mentioned that the assessee did not provide details of substantial increase in capital in a year, on the other hand, she mentioned that the reply was furnished by the assessee relating to addition in capital account which was reproduced in para 6 of the impugned order. In the present case, it cannot be said that the AO did not make inquiries / verification relating to increase in capital account of the assessee as alleged by the Ld. Pr. CIT. - it cannot be said that the order passed by the AO was erroneous or prejudicial to the interest of the Revenue - AT Highlights Income Tax Tue, 14 Jun 2022 08:29:43 +0530 https://www.taxtmi.com/highlights?id=64050