Section 263 revisionary power can’t be invoked solely on improper inquiry allegations

Advertisement Dharam Singh Vs PCIT (ITAT Delhi) In the case of Dharam Singh vs PCIT, the ITAT Delhi adjudicated on the exercise of revisionary power under section 263 of the Income-tax Act, 1961. The case involved allegations by the PCIT that the Assessing Officer (AO) had not conducted adequate inquiries during the assessment, prompting revision proceedings. The appellant, Dharam Singh, contested the invocation of revisionary powers, arguing that the AO had diligently conducted inquiries, including scrutiny of cash deposits during demonetization and disclosure of scrap sales. The AO had is...