https://www.taxtmi.com/caselaws?id=782723 ITAT partly upheld the PCIT's revision u/s 263 of the reassessment order u/s 147. It held that the AO's failure to examine (i) unsecured loans (other than the specifically queried loan), (ii) employees' PF/ESI contributions, and (iii) donation expense rendered the reassessment order erroneous and prejudicial to the interests of Revenue, justifying revision on these issues. However, as regards the specific unsecured loan of Rs. 55,00,000 from a lender company, the AO had raised detailed queries and considered evidences before accepting the claim. ITAT held that on this issue the AO had taken a plausible view and the PCIT exceeded jurisdiction u/s 263; revision was quashed to that extent. en-us Thu, 07 Aug 2025 00:00:00 +0530 Mon, 01 Dec 2025 15:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782723 ITAT partly upheld the PCIT's revision u/s 263 of the reassessment order u/s 147. It held that the AO's failure to examine (i) unsecured loans (other than the specifically queried loan), (ii) employees' PF/ESI contributions, and (iii) donation expense rendered the reassessment order erroneous and prejudicial to the interests of Revenue, justifying revision on these issues. However, as regards the specific unsecured loan of Rs. 55,00,000 from a lender company, the AO had raised detailed queries and considered evidences before accepting the claim. ITAT held that on this issue the AO had taken a plausible view and the PCIT exceeded jurisdiction u/s 263; revision was quashed to that extent. Case-Laws Income Tax Thu, 07 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782723