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Assessee's failure to rebut PCIT findings u/s 263 leads to upheld revision due to erroneous AO order.
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....Revision u/s 263 - notice issued on several points - assessee could not rebut the findings of the Ld. PCIT in respect of points ‘b’ and ‘c’ which proves that the order of the AO was erroneous and prejudicial to the interest of Revenue as the AO had failed to make any proper required enquires to frame the assessment - revision upheld....