https://www.taxtmi.com/caselaws?id=777786 ITAT (Rajkot) held that the A.O. had made adequate inquiries under s.142(1) and possessed necessary records; the Pr. C.I.T.'s initiation of revision under s.263 was unwarranted because there was no failure of inquiry or lack of verification, and the A.O.'s assessment was not shown to be erroneous or prejudicial to revenue. Consequently the s.263 order was quashed and the assessee's appeal allowed. en-us Mon, 13 Jan 2025 00:00:00 +0530 Fri, 05 Sep 2025 08:10:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777786 ITAT (Rajkot) held that the A.O. had made adequate inquiries under s.142(1) and possessed necessary records; the Pr. C.I.T.'s initiation of revision under s.263 was unwarranted because there was no failure of inquiry or lack of verification, and the A.O.'s assessment was not shown to be erroneous or prejudicial to revenue. Consequently the s.263 order was quashed and the assessee's appeal allowed. Case-Laws Income Tax Mon, 13 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777786