Revision u/s 263 - unexplained cash deposits - AO is not only an ...

Income Tax

May 24, 2019

Revision u/s 263 - unexplained cash deposits - AO is not only an adjudicator, but also an investigator who failed to investigate the source and truth behind the cash deposits in assessee’s bank account and endorsed the offer of the assessee without making any enquiry - it is a case of lack of enquiries on the part of AO - rivision upheld

View Source

← Previous Next →

Revision u/s 263 - unexplained cash deposits - AO is not only an ...

Income Tax

May 24, 2019

You may also like:

Revision u/s 263 - unexplained cash deposit during the demonization period - The tribunal noted that the AO had conducted an adequate inquiry into the assessee's cash...

Revision u/s 263 - Unexplained cash deposits - Merely because documents, noted by the AO to be produced by the creditor of source of cash deposit in response to summons...

Revision u/s 263 - unexplained cash deposits - onus to prove - The Pr. CIT found the assessment order erroneous and prejudicial to the revenue's interests due to...

Revision u/s 263 - unexplained cash deposits - AO has taken a possible view that the deposits/credits in the bank account was on account of sale of banana and has...

Revision u/s 263 - unexplained cash deposits - The tribunal rejected the notion that unexplained deposits prior to withdrawals undermined the explanation provided by the...

Jurisdiction of CIT u/s 263 – AO is not only an adjudicator but also an investigator - AO has totally failed to make any enquiry - the invocation of section 263 by the...

Revision u/s 263 by CIT - Unexplained Cash deposited in the bank account - taxability of profit @ 8% u/s. 44AD - This action of the assessee was accepted by the AO...

Revision u/s 263 by the ld. PCIT - Neither the AO had enquired into the sources of cash deposits nor the appellant had offered any explanation in support of the sources...

Revision u/s 263 by CIT - Addition of unexplained cash credit u/s 68 - AO has deemed it fit and proper to treat the cash deposits as the business receipts of the...

Unexplained cash deposits - difference in turnover as unexplained investments - The reasons cited by AO that assessee had failed to file any evidence regarding his...

Revision u/s 263 - source of cash deposited in the Bank account - There is a direct nexus between the transaction of sale and the cash deposited in the bank account of...

Unexplained deposits in cash in bank - assessee's father was the owner of agriculture land and the said cash was deposited partly out proceeds from sale of agriculture...

Revision u/s 263 - STCG on alleged Penny Stock - sale and purchase of shares listed on the BSE through registered share broker at rates of stock exchange - AO had...

Revision u/s 263 - unexplained credits - set off of net loss from capital assets with cash credit - applicable rate of tax @30% u/s 115BBE on unexplained cash u/s 68 -...

Revision u/s 263 by CIT - AO has not verified the cash deposited by the partners and also loan taken from the Trust and cash embezzlement and interest free advances to...

Quick Updates: