https://www.taxtmi.com/caselaws?id=776097 The ITAT upheld the revision under section 263 by the PCIT, affirming that the assessee failed to furnish details or offer income on the sale of immovable property despite opportunities. The AO had treated the sale consideration as capital gains and taxed it accordingly, but the PCIT revised the assessment, adding the sale consideration under section 68 and applying a 30% tax rate instead of 20%. The assessee did not challenge this finding or provide necessary submissions. In the absence of any justification to interfere, the ITAT affirmed the PCIT's order, deciding against the assessee. en-us Thu, 02 Jan 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776097 The ITAT upheld the revision under section 263 by the PCIT, affirming that the assessee failed to furnish details or offer income on the sale of immovable property despite opportunities. The AO had treated the sale consideration as capital gains and taxed it accordingly, but the PCIT revised the assessment, adding the sale consideration under section 68 and applying a 30% tax rate instead of 20%. The assessee did not challenge this finding or provide necessary submissions. In the absence of any justification to interfere, the ITAT affirmed the PCIT's order, deciding against the assessee. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776097