Dismissing the appeal of the revenue High court held that since the Assessing Officer has made inquires in details and accepted genuineness of loans received by assessee, such view of Assessing Officer was a plausible view and same cannot to be considered erroneous or prejudicial to interest of revenue. (AY 2013-14)
PCIT v. Shreeji Prints (P) Ltd. (2021) 130 taxmann.com 293 (Guj.)(HC) Editorial : SLP of revenue dismissed; PCIT v. Shreeji Prints (P.) Ltd. (2021) 282 Taxman 464 (SC))/( 2021) 437 ITR 10(ST)(SC)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Unexplained investment-Un secured loans-Enquires were made in detail-Plausible view-Explanation 2-Revision is held to be not valid. [S. 68, 69]