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2023 (4) TMI 237 - AT - Income TaxRevision u/s 263 - unexplained deposit of cash by the assessee during demonetization period - whether order passed by the Ld. AO erroneous so as to prejudicial to the interest of the Revenue due to lack of enquiry? - HELD THAT:- We find that in this case proper and adequate enquiry has been conducted by the Ld. AO in regard to the entire aspect of the matter, particularly, the Court case relating to the dispute on the land and the orders passed by different judicial forums and upon adequate examination of the records placed by the assessee, the assessment was completed. Simply because the money was deposited during demonetization the same cannot lead to the conclusion of having any ingenuine plea of the assessee as narrated above - order passed by the Ld. PCIT quashing the order passed by the Ld. AO holding it erroneous and prejudicial to the interest of the Revenue due to lack of adequate enquiry is not sustainable in the eye of law. Decided in favour of assessee.
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