This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Revision u/s 263 Upheld: AO’s Silent Acceptance of Cash Deposits & Property Source is Erroneous
Case Law Details
- Case Name
- Zakaria Bajpe Vs CIT (International Taxation) (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Bangalore
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Zakaria Bajpe Vs CIT (International Taxation) (ITAT Bangalore)
ITAT Bangalore: Revision u/s 263 Upheld – AO’s Silent Acceptance of Cash Deposits & Property Source is Erroneous
Background
Assessee, an NRI during AY 2015-16, filed return declaring income of ₹50.72 lakh. Case was selected for limited scrutiny to verify (i) large cash deposits in bank accounts & (ii) source for purchase of property (land at Udyavara, Udupi for ₹81 lakh, paid in FY 2013-14). Assessee explained that deposits (₹37.6 lakh) came from earlier cash withdrawals & rent receipts, & proper...
Author Info
