https://www.taxtmi.com/caselaws?id=764507 The ITAT Delhi quashed a revision order u/s 263 where the PCIT claimed the AO failed to adequately verify various claims including loans, TDS compliance, depreciation, and custom duty deductions. The tribunal held that all relevant issues were properly examined by the AO during assessment proceedings. The PCIT failed to cite cogent reasons for concluding the assessment was erroneous and prejudicial to revenue interests, and had not undertaken minimum enquiry while not doubting submitted documents. The tribunal ruled the revision order was bad in law and void ab initio, allowing the assessee's appeal. en-us Thu, 09 Jan 2025 00:00:00 +0530 Mon, 02 Mar 2026 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764507 The ITAT Delhi quashed a revision order u/s 263 where the PCIT claimed the AO failed to adequately verify various claims including loans, TDS compliance, depreciation, and custom duty deductions. The tribunal held that all relevant issues were properly examined by the AO during assessment proceedings. The PCIT failed to cite cogent reasons for concluding the assessment was erroneous and prejudicial to revenue interests, and had not undertaken minimum enquiry while not doubting submitted documents. The tribunal ruled the revision order was bad in law and void ab initio, allowing the assessee's appeal. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764507