https://www.taxtmi.com/caselaws?id=765645 ITAT Delhi upheld PCIT's revision under Section 263, finding AO's assessment order erroneous and prejudicial to revenue. AO failed to conduct proper inquiry into rental expenses despite having incriminating WhatsApp chats showing cash transactions. AO never sought supporting documents like rent agreements or confronted assessee with available evidence, merely accepting ledger entries. ITAT distinguished between plausible view versus non-application of mind, holding AO conducted no effective inquiry. PCIT's jurisdiction under Section 263 was validly assumed as order was both erroneous and prejudicial to revenue interests. en-us Fri, 31 Jan 2025 00:00:00 +0530 Thu, 06 Feb 2025 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765645 ITAT Delhi upheld PCIT's revision under Section 263, finding AO's assessment order erroneous and prejudicial to revenue. AO failed to conduct proper inquiry into rental expenses despite having incriminating WhatsApp chats showing cash transactions. AO never sought supporting documents like rent agreements or confronted assessee with available evidence, merely accepting ledger entries. ITAT distinguished between plausible view versus non-application of mind, holding AO conducted no effective inquiry. PCIT's jurisdiction under Section 263 was validly assumed as order was both erroneous and prejudicial to revenue interests. Case-Laws Income Tax Fri, 31 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765645