ITAT Delhi Upholds CIT’s Order for Fresh Assessment Over Unverified Cash Deposits

Ankush Garg Vs CIT (ITAT Delhi) Income Tax Appellate Tribunal (ITAT), Delhi, dismissed two appeals filed by Ankush Garg against orders passed by the Commissioner of Income Tax (CIT), Rohtak, for the assessment years 2010-11 and 2011-12. The central issue in both appeals revolved around the CIT’s invocation of Section 263 of the Income Tax Act, which allows for the revision of an Assessing Officer’s (AO) order if it is deemed erroneous and prejudicial to the interests of revenue. The CIT had set aside the original assessment order under Section 143(3) and directed the AO to conduct ...