Order u/s 263 Set Aside: PCIT's Claims Unsupported by Records; No Advances Made by Assessee Confirmed.

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....Revision u/s 263 - Assessee has regular dealings with these related persons/entities and necessary confirmation is on record and therefore, the findings of the ld PCIT that no documents have been filed by the assessee is not borne out of records. As regarding, the advances given by the assessee during the year, the assessee during the assessment proceedings has submitted that no advances were given during the year and therefore, the findings of the ld PCIT is again not borne out of records. - Order passed u/s 263 set aside - AT....