https://www.taxtmi.com/highlights?id=72929 Validity of Revision u/s 263 - Even if it were to be accepted that the assessment has been completed by mere reference to the provisions of section 44AD by the AO, even then, in our view Principal CIT was correct in observing that reference could not have been drawn to the said provisions as the total quantum of transaction was exceeding Rs. 60 lacs in the year under consideration. - Revision order sustained - AT en-us Mon, 06 Nov 2023 10:36:46 +0530 Mon, 06 Nov 2023 10:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72929 Validity of Revision u/s 263 - Even if it were to be accepted that the assessment has been completed by mere reference to the provisions of section 44AD by the AO, even then, in our view Principal CIT was correct in observing that reference could not have been drawn to the said provisions as the total quantum of transaction was exceeding Rs. 60 lacs in the year under consideration. - Revision order sustained - AT Highlights Income Tax Mon, 06 Nov 2023 10:36:46 +0530 https://www.taxtmi.com/highlights?id=72929