Section 263 Revision Upheld for Lack of Enquiry on Cash Deposits

Vineetsingh Gulabsingh Rore Vs PCIT (ITAT Ahmedabad) AO failed to make adequate enquiries regarding large cash deposits during the demonetisation- PCIT’s 263 Order Upheld In Vineetsingh Gulabsingh Rore v. PCIT, Ahmedabad-1 (ITA No. 868/Ahd/2023; AY 2017-18), the ITAT Ahmedabad Bench dealt with a challenge to a revisionary order passed under Section 263, along with a substantial delay of 543 days in filing the appeal. The assessee explained the delay on the ground of wrong legal advice by his earlier consultant, who had not advised filing an appeal against the Section 263 order, believing it ...