https://www.taxtmi.com/caselaws?id=775784 The ITAT upheld the PCIT's revision under section 263, finding the AO's order erroneous and prejudicial to revenue for failing to verify the contract receipt from Social Forestry Division, Jaunpur, which the assessee denied. The AO accepted the denial without conducting independent third-party inquiry despite the receipt appearing in the assessee's Form 26AS and the assessee's request for verification. Receipts from tyre retreading and tanker rent were properly accounted for and not disputed. The matter was remanded with directions for the AO to verify the transaction with Social Forestry Division, Jaunpur, and re-adjudicate accordingly. The assessee's appeal was partly allowed. en-us Tue, 29 Jul 2025 00:00:00 +0530 Thu, 31 Jul 2025 08:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775784 The ITAT upheld the PCIT's revision under section 263, finding the AO's order erroneous and prejudicial to revenue for failing to verify the contract receipt from Social Forestry Division, Jaunpur, which the assessee denied. The AO accepted the denial without conducting independent third-party inquiry despite the receipt appearing in the assessee's Form 26AS and the assessee's request for verification. Receipts from tyre retreading and tanker rent were properly accounted for and not disputed. The matter was remanded with directions for the AO to verify the transaction with Social Forestry Division, Jaunpur, and re-adjudicate accordingly. The assessee's appeal was partly allowed. Case-Laws Income Tax Tue, 29 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775784