https://www.taxtmi.com/caselaws?id=782801 ITAT Pune set aside the revisionary order u/s 263 passed by PCIT against the assessee's assessment framed u/s 153A with prior approval u/s 153D. The Tribunal held that the AO had specifically inquired into the issue of sale of assets below circle rate and possible violation of s. 43CA, obtained replies from the assessee, and thereafter accepted the explanation. This constituted an instance of inquiry, not lack of inquiry. Mere perception of inadequacy of inquiry or reliance solely on higher guideline value could not render the assessment "erroneous and prejudicial to the interests of Revenue." The assessee's appeal was allowed. en-us Wed, 12 Nov 2025 00:00:00 +0530 Thu, 04 Dec 2025 09:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782801 ITAT Pune set aside the revisionary order u/s 263 passed by PCIT against the assessee's assessment framed u/s 153A with prior approval u/s 153D. The Tribunal held that the AO had specifically inquired into the issue of sale of assets below circle rate and possible violation of s. 43CA, obtained replies from the assessee, and thereafter accepted the explanation. This constituted an instance of inquiry, not lack of inquiry. Mere perception of inadequacy of inquiry or reliance solely on higher guideline value could not render the assessment "erroneous and prejudicial to the interests of Revenue." The assessee's appeal was allowed. Case-Laws Income Tax Wed, 12 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782801