No Addition, No Revision: PCIT Action Fails for Want of Error and Prejudice

Jalpa Uttapal Patel Vs PCIT (ITAT Ahmedabad) No Addition, No Revision: ITAT Ahmedabad Quashes PCIT’s 263 Action in Alleged Bogus Purchase Case ITAT Ahmedabad “D” Bench, in Jalpa Uttapal Patel vs Pr. CIT, Ahmedabad-1 (ITA No. 720/Ahd/2025, AY 2018-19, order dated 23-12-2025), set aside the revision order u/s 263, holding that the PCIT had wrongly assumed revisionary jurisdiction despite a proper and reasoned assessment by the AO. The case was originally reopened u/s 147 based on Insight Portal information alleging bogus purchase/sale transactions of ₹1.84 crore with M/s Kapishwar Steels...