No Second Bite at the Cherry- ‘Set Aside’ u/s 264 means Assessment Quashed

Changappa Pemmaiah Biddamada Vs ITO (ITAT Bangalore) No Second Bite at the Cherry- ‘Set Aside’ u/s 264 means Assessment Quashed – AO cannot Redo without Fresh Directions Assessee faced an addition of ₹20.78 lakh towards cash deposits in his bank account. The original assessment was completed ex parte u/s 144 on 27.12.2019. Aggrieved, assessee filed a revision petition u/s 264. PCIT, by order dated 28.03.2021, set aside the assessment order with the observation that the assessee must regularly check the income-tax portal for departmental communications. Following this, however, AO onc...