Invocation of section 263 justifiable as AO failed to reconcile claim of LTCG exemption

R V Deshpande HUF Vs PCIT (ITAT Bangalore)

ITAT Bangalore held that invocation of provisions of section 263 justifiable as AO failed to reconcile the claim of long term capital gain exemption with the amounts furnished in Form 10DB

Facts-

AO called on various details from time to time and concluded the assessment by making an addition of Rs.14,90,000 as unexplained money u/s.69A. The PCIT on verification of assessment records noticed tha

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