https://www.taxtmi.com/caselaws?id=768949 ITAT Pune upheld revision u/s 263 regarding two issues where AO failed to inquire into section 43CA applicability for land sale below market value and interest capitalization. Despite Rs. 38,32,312 difference under section 43CA, assessee offered only Rs. 3,05,475 without AO examination. Interest addition of Rs. 1,52,87,640 to land cost remained unexamined. However, ITAT set aside revision for section 69C addition u/s 115BBE, finding AO had made specific queries, received replies, and considered assessee's submissions before passing order, constituting adequate inquiry rather than lack of inquiry warranting revision. en-us Wed, 09 Apr 2025 00:00:00 +0530 Wed, 16 Apr 2025 08:38:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768949 ITAT Pune upheld revision u/s 263 regarding two issues where AO failed to inquire into section 43CA applicability for land sale below market value and interest capitalization. Despite Rs. 38,32,312 difference under section 43CA, assessee offered only Rs. 3,05,475 without AO examination. Interest addition of Rs. 1,52,87,640 to land cost remained unexamined. However, ITAT set aside revision for section 69C addition u/s 115BBE, finding AO had made specific queries, received replies, and considered assessee's submissions before passing order, constituting adequate inquiry rather than lack of inquiry warranting revision. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768949