Section 263 Invoked for Failure to Verify Source of Cash Deposits

Nagaraj Yasodha vs. PCIT (ITAT Bangalore)

AO’s Mechanical Acceptance of Affidavit Fatal: 263 Revision Upheld in Cash Deposit Case – ITAT Bangalore

The Bangalore Bench of the ITAT, in Shri Nagaraj Yasodha vs. Pr. CIT, Bangalore (ITA No.1150/Bang/2025, AY 2015-16, order dated 19-12-2025), upheld the revisionary action u/s 263, holding that the Assessing Officer had passed the reassessment order without proper enqu

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