Income Tax Act Section 263: AO must verify financial surcharge adjustments; mere submission of financials isn't enough.

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....Revision u/s 263 - Merely because the balance sheet and P&L account are placed before the AO at the time of assessment, it cannot be construed that the AO had verified the entire issues unless specific information is called by the AO. Therefore, there was an error which is prejudicial to the interest of revenue with regard to non-verification of financial surcharge adjustment in the assessment made u/s 143(3). - AT....