Revision U/s 263 Upheld – Lack of Enquiry on Alleged Cash Payment in Property Purchase

Advertisement Ravindra Dhaka Vs PCIT (ITAT Delhi) The ITAT Delhi dismissed the assessee’s appeal and upheld the revision order passed by the PCIT u/s 263 holding that the assessment framed u/s 143(3) was erroneous and prejudicial to the interests of Revenue due to lack of proper enquiry. The case involved alleged cash payment of about ₹44.68 lakh for acquisition of property based on Investigation Wing material seized during search in another group. The Faceless AO had accepted the returned income since legible documents and cross-examination opportunity were not provided; however, the T...