https://www.taxtmi.com/caselaws?id=446656 ITAT Ahmedabad upheld CIT's revision order u/s 263 finding the assessment erroneous and prejudicial to revenue. The case involved income mismatch between Form 26AS and audited financial statements that AO failed to inquire during assessment proceedings. While assessee claimed income was declared across two different assessment years without revenue loss, ITAT noted AO conducted no inquiry into the highlighted discrepancy. Despite assessee's contentions remaining unverified by both AO and CIT, ITAT concluded assessment order was erroneous for lack of proper inquiry, dismissing assessee's appeal. en-us Wed, 06 Dec 2023 00:00:00 +0530 Fri, 08 Dec 2023 08:56:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446656 ITAT Ahmedabad upheld CIT's revision order u/s 263 finding the assessment erroneous and prejudicial to revenue. The case involved income mismatch between Form 26AS and audited financial statements that AO failed to inquire during assessment proceedings. While assessee claimed income was declared across two different assessment years without revenue loss, ITAT noted AO conducted no inquiry into the highlighted discrepancy. Despite assessee's contentions remaining unverified by both AO and CIT, ITAT concluded assessment order was erroneous for lack of proper inquiry, dismissing assessee's appeal. Case-Laws Income Tax Wed, 06 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446656