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2023 (7) TMI 1046 - AT - Income TaxRevision u/s 263 - unexplained cash deposit to bank account not verified by AO - HELD THAT:- Copy of the questionnaire issued u/s 142 has not been placed. It is not discernable whether AO has verified this aspect i.e. source of cash available with the assessee for making deposits in two Bank accounts as narrated by the ld. Pr. Commissioner. Though assessee has placed on record details in tabulated form, wherein Bank Pass Book of the Burdwan Central Cooperative Bank Limited, Bank statement of Axis Bank Limited, the cash available with the assessee and host of details running into more than 50 pages, but no authority has recorded any finding of fact, namely neither the ld. Assessing Officer has examined this aspect during the assessment proceeding nor ld. Pr. CIT. Thus in any case, it is to be relegated before one of the authority to record a specific finding. Faced with this situation, we deem it appropriate to uphold the finding of the ld. Pr. CIT to a limited extent that ld. Assessing Officer shall verify the source of cash available with the assesese for making deposits in two Bank accounts. In case, AO is satisfied with the explanation of assessee, no addition will be made. However, if he was not satisfied, then, he will treat the alleged deposits of cash in accordance with law. Decided against assessee.
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