No sec. 263 revision if AO duly verified purchase/sale of shares before forming the opinion that transaction was genuine: ITAT

INCOME TAX : Where Assessing Officer had called for and verified all details and documents in connection with purchase and sale of shares in question and after examining same, had taken a possible view that transactions were genuine, revision of assessment order under section 263 by Commissioner being bad in law was to be quashed and set aside

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