Revisional order valid as AO accepted additional income offered by assessee without any verification

Navunda Abdulla Badruddin Vs PCIT (ITAT Bangalore) ITAT Bangalore held that PCIT justified in invoking jurisdiction u/s 263 of the Income Tax Act as AO merely accepted the additional income offered by the assessee without verifying the bogus purchases and amount recorded in books. Facts- PCIT during the review of assessment records noticed that AO has taxed the unexplained expenses on regular rates. PCIT stated that the unexplained expenses are not recorded in the books of account and therefore it should not have been brought to tax u/s. 69C of the Act and should be taxed u/s. 115BBE of the Ac...