Revision u/s 263 by CIT- underassessment of income - CIT doubted ...

Income Tax

January 17, 2022

Revision u/s 263 by CIT- underassessment of income - CIT doubted the expense claimed u/s. 57(iii) - Claim of general expenses against interest income - No doubt, assessee has filed some details during the assessment proceedings, but the AO did not raise query to dig the truth. The assessing officer should examine the details filed by the assessee and must reach on right conclusion, which the AO has failed to do so in the assessee's case under consideration. - Revision order sustained - AT

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Revision u/s 263 by CIT- underassessment of income - CIT doubted ...

Income Tax

January 17, 2022

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