https://www.taxtmi.com/caselaws?id=447079 ITAT Mumbai allowed the appeal, setting aside the revision order u/s 263. The case involved partners' capital contributions to a firm that the CIT claimed were not examined by the AO during assessment proceedings. The tribunal found that the AO had indeed examined the capital contribution issue during scrutiny assessment, with the assessee providing bank statements, ledger accounts, partnership deed, and other supporting documents. The tribunal relied on Bombay HC precedent in Reliance Communication Ltd, holding that lack of specific reference in the assessment order does not make it erroneous when issues were actually examined. The revision order was deemed unjustified. en-us Thu, 14 Dec 2023 00:00:00 +0530 Sat, 16 Dec 2023 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447079 ITAT Mumbai allowed the appeal, setting aside the revision order u/s 263. The case involved partners' capital contributions to a firm that the CIT claimed were not examined by the AO during assessment proceedings. The tribunal found that the AO had indeed examined the capital contribution issue during scrutiny assessment, with the assessee providing bank statements, ledger accounts, partnership deed, and other supporting documents. The tribunal relied on Bombay HC precedent in Reliance Communication Ltd, holding that lack of specific reference in the assessment order does not make it erroneous when issues were actually examined. The revision order was deemed unjustified. Case-Laws Income Tax Thu, 14 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447079