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Income Tax - Highlights / Catch Notes

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Revision u/s 263 - source of cash deposited in the Bank account ...

Income Tax

September 19, 2023

Revision u/s 263 - source of cash deposited in the Bank account - There is a direct nexus between the transaction of sale and the cash deposited in the bank account of the assessee as the transaction of sale of land is registered on 26.04.2010 and the cash was also deposited by the assessee on the same date. AO has accepted the deal of sale of agriculture land with a conscious and independent application of mind. - AT

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