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No Lack of Enquiry in Loan Verification, PCIT Revision Fails
Case Law Details
- Case Name
- Valour Autopack Vs PCIT-1 (ITAT Rajkot)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Rajkot
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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...
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