CIT Invokes Section 263 for Revision: AO Failed to Properly Tax Assessee's Undisclosed Stock Investment, Deemed Erroneous.

Revision u/s 263 by CIT - AO has failed to apply proper and correct section of Income Tax Act to the “Investment in the Undisclosed Stock”. The undisclosed investment in the unaccounted stock needs to be taxed separately as Income of the assessee as per the deeming provision of the Act. - the Assessment Order is erroneous and prejudicial to the interest of the revenue. - AT .....

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