Revision u/s 263 by CIT - The AO ought to have, therefore, ...

CIT Orders Reassessment u/s 263 Due to AO's Non-Verification of Agricultural Income Claims Exempt u/s 10.

September 27, 2022

Case Laws Income Tax AT

Revision u/s 263 by CIT - The AO ought to have, therefore, exceeded his ambit to verify the veracity of the claims as to agricultural income, exempt u/s. 10, i.e., besides being in explanation of the source of the cash deposit. He having not done so, by seeking the approval of his range head, as enjoined upon him by the Board Circular, binding on him, the said authority was competent to, in exercise of his revisionary jurisdiction, require the AO to examine the same, setting aside the assessment for the purpose. - AT

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Revision u/s 263 by CIT - The AO ought to have, therefore, ...

CIT Orders Reassessment u/s 263 Due to AO's Non-Verification of Agricultural Income Claims Exempt u/s 10.

September 27, 2022

Case Laws Income Tax AT

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