https://www.taxtmi.com/caselaws?id=195808 Revisional jurisdiction under section 263 was upheld where the Assessing Officer accepted revised returns and agricultural income claims without meaningful verification. The absence of proper inquiry into alleged crop receipts, the link between crop sales and LIC investments, the source and movement of cash deposits, and the authenticity of supporting documents rendered the assessments erroneous and prejudicial to the Revenue. Failure to give effect to binding directions under section 144A, together with the surrounding inconsistencies and unusual income pattern, showed non-application of mind. The matter was treated as one of practically no enquiry rather than a mere case of inadequate inquiry, and the assessments were set aside for fresh assessment. en-us Thu, 08 Dec 2016 00:00:00 +0530 Sat, 11 Nov 2017 10:51:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195808 Revisional jurisdiction under section 263 was upheld where the Assessing Officer accepted revised returns and agricultural income claims without meaningful verification. The absence of proper inquiry into alleged crop receipts, the link between crop sales and LIC investments, the source and movement of cash deposits, and the authenticity of supporting documents rendered the assessments erroneous and prejudicial to the Revenue. Failure to give effect to binding directions under section 144A, together with the surrounding inconsistencies and unusual income pattern, showed non-application of mind. The matter was treated as one of practically no enquiry rather than a mere case of inadequate inquiry, and the assessments were set aside for fresh assessment. Case-Laws Income Tax Thu, 08 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195808