PCIT Rightly Exercised Jurisdiction u/s 263 Due to AO's Inadequate Probe into Bogus Purchase Allegations. https://www.taxtmi.com/highlights?id=66870 Revision u/s 263 - Estimation of bogus purchases - it is incumbent upon the AO to inquire into the matter and take the proceedings to the logical end. Having not done so, PCIT was fully justified in exercising jurisdiction u/s 263 of the Act - HC en-us Thu, 01 Dec 2022 07:44:32 +0530 Thu, 01 Dec 2022 07:44:32 +0530 TaxTMI RSS Generator PCIT Rightly Exercised Jurisdiction u/s 263 Due to AO's Inadequate Probe into Bogus Purchase Allegations. https://www.taxtmi.com/highlights?id=66870 Revision u/s 263 - Estimation of bogus purchases - it is incumbent upon the AO to inquire into the matter and take the proceedings to the logical end. Having not done so, PCIT was fully justified in exercising jurisdiction u/s 263 of the Act - HC Highlights Income Tax Thu, 01 Dec 2022 07:44:32 +0530 https://www.taxtmi.com/highlights?id=66870