Income Tax Act Review: Assessing Officer's Oversight on Section 56(2)(vii)(b)(ii) Leads to Revision u/s 263.

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....Revision u/s 263 - applicability of provisions of section 56(2)(vii)(b)(ii) - purchase of shops on less than stamp valuation - record clearly reveal that the AO has completely failed to examine the applicability of section 56(2)(vii)(b)(ii) to the subject transactions - due to such failure assessment order not only erroneous but prejudicial to the interests of Revenue - revision upheld....