https://www.taxtmi.com/caselaws?id=446453 ITAT Chandigarh partially allowed assessee's appeal against PCIT's revision order u/s 263. The tribunal upheld PCIT's jurisdiction regarding falsified confirmations from two parties (M/s A.K. Minerals and M/s G.K Laxmi) where subsequent confirmations contradicted original ones, and incomplete gift documentation from assessee's mother. However, ITAT set aside PCIT's findings on bank deposits belonging to third party, cash transactions with various individuals, retail cash sales, unsecured loans, non-compliance with post-assessment CBDT instructions, and audit report examination, holding these matters were adequately inquired by AO during assessment proceedings. en-us Fri, 27 Oct 2023 00:00:00 +0530 Mon, 04 Mar 2024 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446453 ITAT Chandigarh partially allowed assessee's appeal against PCIT's revision order u/s 263. The tribunal upheld PCIT's jurisdiction regarding falsified confirmations from two parties (M/s A.K. Minerals and M/s G.K Laxmi) where subsequent confirmations contradicted original ones, and incomplete gift documentation from assessee's mother. However, ITAT set aside PCIT's findings on bank deposits belonging to third party, cash transactions with various individuals, retail cash sales, unsecured loans, non-compliance with post-assessment CBDT instructions, and audit report examination, holding these matters were adequately inquired by AO during assessment proceedings. Case-Laws Income Tax Fri, 27 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446453