ITAT quashes Revision Order passed without showing Prejudice to Revenue or Error by AO [Read Order]

The AO had added these cash sales as business income under Section 143(3) r.w.s 153A of the Income Tax Act.
ITAT - ITAT Jaipur - ITAT Jaipur ruling - Income Tax - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Jaipur, in a ruling dated October 16, 2024, has quashed the revision order issued by the Principal Commissioner of Income Tax (PCIT) against the assessee under Section 263 of the Income Tax Act observing that no substantial error or prejudice to revenue was established by the PCIT. The case…

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