https://www.taxtmi.com/caselaws?id=768829 ITAT Ranchi held that CIT's revision under Section 263 was invalid as the original AO had conducted adequate enquiries regarding high closing stock, payments to landowners, source of advances, and allowability of business promotion expenses, travelling expenses, and periodicals. The tribunal found that PCIT's order impermissibly revisited issues already examined in current and previous years. The Section 263 order was cancelled, restoring the original assessment dated 09/07/2019. en-us Mon, 24 Mar 2025 00:00:00 +0530 Tue, 15 Apr 2025 08:34:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768829 ITAT Ranchi held that CIT's revision under Section 263 was invalid as the original AO had conducted adequate enquiries regarding high closing stock, payments to landowners, source of advances, and allowability of business promotion expenses, travelling expenses, and periodicals. The tribunal found that PCIT's order impermissibly revisited issues already examined in current and previous years. The Section 263 order was cancelled, restoring the original assessment dated 09/07/2019. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768829