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2022 (9) TMI 303 - AT - Income TaxRevision u/s 263 by CIT - development expenses, unsecured loan and the advances unexplained - HELD THAT:- Assessee failed to furnish the required documentary evidences to substantiate the issues identified by ld. PCIT. We find that Ld. PCIT has given sufficient & adequate opportunities before passing his revisional assessment order. The assessee failed to provide without details of development expenses, unsecured loan and the advances despite repeated notice and reminder. We find that in absence of any details sought by PCIT, the order of Assessing Officer was revised by PCIT. Before us neither the representative have appeared despite service of notice nor filed any written submission. Therefore, in absence of any detailed requirement in support of various grounds of appeal raised by assessee, we do not find any reason to deviate from the finding of ld. PCIT. Accordingly, we confirm the order of PCIT that the assessment order is erroneous and in so far as prejudicial to the interest of revenue. In the result, the various grounds of appeal raised by the assessee are rejected.
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