https://www.taxtmi.com/caselaws?id=758116 The ITAT Nagpur dismissed the assessee's appeal challenging revision under section 263. The PCIT had invoked section 263 claiming the AO failed to examine share application issues during assessment. The ITAT held that despite the assessee's argument about limited scrutiny completion without adverse findings, there was no evidence the AO investigated the share application matter identified for examination. The tribunal found this constituted "no enquiry" justifying the PCIT's revisionary jurisdiction under section 263, upholding the revision order. en-us Mon, 02 Sep 2024 00:00:00 +0530 Sat, 07 Sep 2024 08:19:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758116 The ITAT Nagpur dismissed the assessee's appeal challenging revision under section 263. The PCIT had invoked section 263 claiming the AO failed to examine share application issues during assessment. The ITAT held that despite the assessee's argument about limited scrutiny completion without adverse findings, there was no evidence the AO investigated the share application matter identified for examination. The tribunal found this constituted "no enquiry" justifying the PCIT's revisionary jurisdiction under section 263, upholding the revision order. Case-Laws Income Tax Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758116