Sec 263 Revision Quashed as PCIT Failed to Conduct Independent Enquiry: ITAT Amritsar

Late Shri Sucha Singh Vs PCIT (ITAT Amritsar)

Sec 263 Revision Quashed – Reopening Without Tangible Material Invalid & PCIT Failed to Conduct Independent Enquiry – ITAT Amritsar

The assessee challenged revisionary order u/s 263 relating to reassessment framed on alleged investment in immovable property of ₹76.50 lakh. ITAT noted that reopening itself was initiated merely on AIR information without any supporting purchase deed or tangible material in possession of the AO at the time of recording reasons

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