Delhi HC quashes Revision of Assessment on failure to enquire about Unexplained Cash Deposit found credited in Bank Account [Read Order]

Citing lack of enquiry on the side of PCIT, the Delhi High Court quashes revision of assessment
By Kalyani B. Nair - On December 4, 2023 8:30 pm - 2 mins read
Delhi HC - Assessment on Failure -Enquire - Unexplained Cash Deposit - Credited - Bank Account-TAXSCAN

The Delhi High Court quashed the revision of assessment on failure to enquire about unexplained cash deposit found credited in bank account. The moot question which arises for consideration is whether the Principal Commissioner of Income Tax (PCIT), in passing the order under Section 263 of the Income Tax Act, 1961 had correctly exercised his…

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