Lack of Conclusive Evidence: ITAT quashes Revision Order u/s 263 alleging Cash Payment [Read Order]

In a dispute over cash payment against an immovable property, ITAT quashes the revision order due to a lack of conclusive evidence.

By Kavi Priya - On August 17, 2024 11:31 am - 2 mins read

Itat - Revision Order - Cash Payment - Conclusive Evidence - revision order - itat news - taxscan

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) recently quashed the Principal Commissioner of Income Tax ( PCIT ) revision order under Section 263 of the Income Tax Act, 1961. The revision order had alleged that the assessee, made a cash payment for an immovable property, but no conclusive evidence was…

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