Revision u/s 263 - unexplained cash deposits - AO is not only an ...

Case Laws Income Tax

May 24, 2019

Revision u/s 263 - unexplained cash deposits - AO is not only an adjudicator, but also an investigator who failed to investigate the source and truth behind the cash deposits in assessee’s bank account and endorsed the offer of the assessee without making any enquiry - it is a case of lack of enquiries on the part of AO - rivision upheld

View Source

← Previous Next →

Revision u/s 263 - unexplained cash deposits - AO is not only an ...

Case Laws Income Tax

May 24, 2019

You may also like:

Revision u/s 263 - unexplained cash deposit during the demonization period - The tribunal noted that the AO had conducted an adequate inquiry into the assessee's cash...

Revision u/s 263 - Unexplained cash deposits - Merely because documents, noted by the AO to be produced by the creditor of source of cash deposit in response to summons...

Revision u/s 263 - unexplained cash deposits - onus to prove - The Pr. CIT found the assessment order erroneous and prejudicial to the revenue's interests due to...

The AO failed to correctly compute the undisclosed income after considering the correct sale value of land as per Form 26AS. The assessee claimed that one of the lands...

Revision u/s 263 - unexplained cash deposits - AO has taken a possible view that the deposits/credits in the bank account was on account of sale of banana and has...

Assessing Officer conducted due enquiries regarding cash deposits during demonetization period, called for details from assessee to substantiate source. AO applied mind,...

Revision u/s 263 - unexplained cash deposits - The tribunal rejected the notion that unexplained deposits prior to withdrawals undermined the explanation provided by the...

Jurisdiction of CIT u/s 263 – AO is not only an adjudicator but also an investigator - AO has totally failed to make any enquiry - the invocation of section 263 by the...

Unexplained money u/s 69A read with Section 115BBE(1) - no explanation regarding source of cash deposit in savings account - case selected for limited scrutiny, thus...

Revision u/s 263 by CIT - Unexplained Cash deposited in the bank account - taxability of profit @ 8% u/s. 44AD - This action of the assessee was accepted by the AO...

Revision u/s 263 by the ld. PCIT - Neither the AO had enquired into the sources of cash deposits nor the appellant had offered any explanation in support of the sources...

Revision u/s 263 by CIT - Addition of unexplained cash credit u/s 68 - AO has deemed it fit and proper to treat the cash deposits as the business receipts of the...

The case pertains to the revision of an assessment order u/s 263 regarding the applicability of the higher tax rate u/s 115BBE on unexplained expenditure u/s 69C. The...

Assessee engaged in business of commission agent (Aadatia) for agricultural products. AO made addition u/s 68 treating entire cash deposits in bank account as...

Unexplained cash deposits - difference in turnover as unexplained investments - The reasons cited by AO that assessee had failed to file any evidence regarding his...

Quick Updates: