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2022 (12) TMI 383 - AT - Income TaxRevision u/s 263 by CIT - cash paid / deposited unexplained - assessee along with two co-owners had purchased immovable property AND while making this payment, the assessee paid an amount partly in cash and paid the balance amount through banking channels - observation of the Ld.Pr.CIT that while making payment through banking channels, the assessee made deposit in cash in Corporation Bank to obtain Demand Draft in favour of the seller - HELD THAT:- Contention of the assessee is that the cash paid / deposited was out of the balance available in her books, but she had not submitted any evidence to substantiate her claim and the AO has not verified the above details, therefore the Ld.Pr.CIT set aside the orders passed by the AO as deemed to be erroneous and prejudicial to the interest of the revenue. The contention of the assessee is that the AO has examined all the details filed by the assessee. Upon perusal of the assessment order, the AO has not mentioned anything about the verification of cash deposits / cash payment made by the assessee to the seller. In the absence of such enquiry, we are of the view that the order passed by the Ld.AO is prejudicial to the interest of the revenue. Therefore, we do not find any infirmity in the order passed by the Ld.Pr.CIT to examine the cash payments / deposits made by the assessee in order to purchase the immovable property. Hence, the grounds raised by the assessee are dismissed.
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