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Show Cause Notice Unjustified: AO's Decision Upheld Due to Lack of Evident Circumstances u/s 263.
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....Revision u/s 263 - AO has not committed any error in not chasing ‘will of the wisp’ in the absence of any brazen circumstances available. In the light of aforesaid discussion, the basis of issuance of show cause notice u/s 263 of the Act does not appear to be tenable in law in the peculiar set of facts. - AT....