Case Law Details
Asha Devi Vs PCIT (ITAT Bangalore)
In the present case, limited scrutiny was to be done for verification of cash deposits and the source of cash deposits from the safe custody account is not examined by the AO by calling for relevant details from the assessee. The AO ought to have examined the same to go into the root of these deposits whereas in the instant case, the AO has not questioned the information supplied by the assessee with regard to the source of cash deposits into the safe custody account and has simply accepted those details without further enquiry. In such circumstances, it cannot be said that the AO has made any enquiry or taken a particular view by application of mind on the issue.
In view of the above discussion ITAT hold that there is no infirmity in the impugned order passed by the PCIT u/s. 263 of the of the Act.
FULL TEXT OF THE ORDER OF ITAT BANGALORE
This appeal by the assessee is against the order of the Principal Commissioner of Income-tax, Bengaluru-2 (PCIT) passed u/s.263 of the Income Tax Act 1961 (the Act) dated 16.3.2022 for the assessment year 2017-18.
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