https://www.taxtmi.com/caselaws?id=770535 ITAT Ahmedabad upheld PCIT's revision order u/s 263 on specific grounds. Court confirmed assessment was erroneous regarding TDS on rent u/s 194I where assessee failed to substantiate TDS deduction claims and AO didn't verify compliance. However, PCIT's findings on TDS u/s 194J and closing stock valuation were set aside as no prima facie error was established. Court upheld PCIT's findings on genuineness of unsecured loans from parties where AO failed to examine transactions despite suspicious circumstances including non-reporting of interest income by lenders and incorrect PAN details. en-us Fri, 07 Feb 2025 00:00:00 +0530 Mon, 12 May 2025 17:41:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770535 ITAT Ahmedabad upheld PCIT's revision order u/s 263 on specific grounds. Court confirmed assessment was erroneous regarding TDS on rent u/s 194I where assessee failed to substantiate TDS deduction claims and AO didn't verify compliance. However, PCIT's findings on TDS u/s 194J and closing stock valuation were set aside as no prima facie error was established. Court upheld PCIT's findings on genuineness of unsecured loans from parties where AO failed to examine transactions despite suspicious circumstances including non-reporting of interest income by lenders and incorrect PAN details. Case-Laws Income Tax Fri, 07 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770535