https://www.taxtmi.com/caselaws?id=366075 Revision under section 263 was sustained where the assessment order accepted cash deposits and a claimed loan from the assessee's wife without adequate verification. The record showed that part of the deposits remained unexplained and the wife's capacity to advance funds was not examined, bringing the case within Explanation 2 to section 263 for failure to make enquiries a prudent officer should have made. Revision was also upheld because the Assessing Officer allowed a Chapter VI-A deduction without calling for documentary evidence, leaving a material claim unsupported. The order was therefore treated as erroneous and prejudicial to the interests of the Revenue. en-us Thu, 23 Aug 2018 00:00:00 +0530 Wed, 29 Aug 2018 06:47:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366075 Revision under section 263 was sustained where the assessment order accepted cash deposits and a claimed loan from the assessee's wife without adequate verification. The record showed that part of the deposits remained unexplained and the wife's capacity to advance funds was not examined, bringing the case within Explanation 2 to section 263 for failure to make enquiries a prudent officer should have made. Revision was also upheld because the Assessing Officer allowed a Chapter VI-A deduction without calling for documentary evidence, leaving a material claim unsupported. The order was therefore treated as erroneous and prejudicial to the interests of the Revenue. Case-Laws Income Tax Thu, 23 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366075