https://www.taxtmi.com/caselaws?id=758804 ITAT Pune allowed the assessee's appeal against PCIT's revision order u/s 263. The tribunal held that AO had properly examined section 43CA provisions regarding property sale valuation differences, accepted assessee's explanations, and made no additions. For PF/ESI late payments, since contributions were deposited before return filing due date, section 263 invocation was unjustified. Regarding sections 269SS and 269T applicability on cash transactions, tribunal found no violations as amounts involved journal entries and booking transfers rather than actual cash acceptance/repayment, making PCIT's revision order invalid. en-us Mon, 09 Sep 2024 00:00:00 +0530 Wed, 18 Sep 2024 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758804 ITAT Pune allowed the assessee's appeal against PCIT's revision order u/s 263. The tribunal held that AO had properly examined section 43CA provisions regarding property sale valuation differences, accepted assessee's explanations, and made no additions. For PF/ESI late payments, since contributions were deposited before return filing due date, section 263 invocation was unjustified. Regarding sections 269SS and 269T applicability on cash transactions, tribunal found no violations as amounts involved journal entries and booking transfers rather than actual cash acceptance/repayment, making PCIT's revision order invalid. Case-Laws Income Tax Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758804