https://www.taxtmi.com/caselaws?id=754694 Gujarat HC upheld ITAT's decision dismissing revision u/s 263. Cash of Rs. 15.50 lakhs seized from Director's residence was already assessed and taxed in Director's individual capacity for AY 2014-15. ITAT correctly found AO's order not prejudicial to revenue interest since amount was already taxed. Company's claim of ownership was rejected by department, and book entries were reversed. HC found no error in ITAT's appellate order warranting intervention u/s 254(2). en-us Mon, 10 Jun 2024 00:00:00 +0530 Fri, 28 Jun 2024 08:46:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754694 Gujarat HC upheld ITAT's decision dismissing revision u/s 263. Cash of Rs. 15.50 lakhs seized from Director's residence was already assessed and taxed in Director's individual capacity for AY 2014-15. ITAT correctly found AO's order not prejudicial to revenue interest since amount was already taxed. Company's claim of ownership was rejected by department, and book entries were reversed. HC found no error in ITAT's appellate order warranting intervention u/s 254(2). Case-Laws Income Tax Mon, 10 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754694