Section 263 Revision: Unexplained Cash Deposits Lead to Cancellation of Assessment Order, Further Investigation Required by AO.

Revision u/s 263 - Unexplained cash deposits - A lack of inquiry on a pertinent point which demonstrates possible revenue leakage of staggering amount would definitely tantamount to the order being both erroneous as well as prejudicial to the interest of the Revenue. Consequent upon the action of Pr.CIT, the assessment order is merely cancelled and set aside to the file of the AO for making relevant inquirie - revision sustained - AT .....

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