No Lack of Enquiry in Loan Verification, PCIT Revision Fails

Valour Autopack Vs PCIT-1 (ITAT Rajkot) Unsecured Loans Verified in Scrutiny—PCIT Can’t Seek Deeper Probe: No ‘Lack of Enquiry’, Only ‘Different Opinion’: s.263 Set Aside by ITAT The Rajkot Bench of the ITAT, vide order dated 31.12.2025 in Valour Autopack v. Pr. CIT-1, Rajkot (ITA No.271/RJT/2025, AY 2021-22), allowed the assessee’s appeal and quashed the revisionary order passed u/s 263, holding that the assessment framed u/s 143(3) r.w.s. 144B was neither erroneous nor prejudicial to the interests of the Revenue. The assessee’s case was selected for complete scrutiny under C...