Suspicious Purchases Duly Verified, PCIT’s Revision Held Invalid: ITAT Rajkot

Ketan Gori Vs PCIT (ITAT Rajkot) Purchases Duly Verified, Revision Held Mere Change of Opinion Tribunal Quashes PCIT’s 263 Revision Assessee filed return declaring income of ₹4.64 lakh for AY 2021-22. His case was selected for CASS scrutiny to verify substantial purchases from suppliers flagged as non-filers, non-business ITR filers, or entities with abnormally low turnover. Assessment was completed u/s 143(3) on 18.12.2022 accepting returned income. Later,  PCIT invoked section 263 alleging that  AO failed to verify suspicious purchases, noting that certain suppliers had cancelled GST...