Huge cash deposit, AO made adequate enquiries, Section 263 not invocable

Arvi Lights Vs ITO (ITAT Delhi)

The assessment was sought to be revised u/s 263 of the I T Act holding that ld. AO had not enquired about the cash deposits of Rs 80,50,000/- deposited in bank during the demonetization period. Huge increase in sales in the month of October, 2016 due to Diwali season is found

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