https://www.taxtmi.com/caselaws?id=285101 The Tribunal allowed the appeals in the cases involving addition of unexplained investment in jewellery and unexplained cash credit, as well as the challenge to the validity of assessment orders under Section 263. The Tribunal directed the AO to rework the unexplained investment in jewellery, considering CBDT instructions, and deleted the addition of unexplained cash credit due to lack of incriminating material. It held that the CIT's revisionary powers under Section 263 were not justified in the absence of pending assessment proceedings and incriminating material, quashing the CIT's order and allowing the appeals. en-us Mon, 21 Jul 2014 00:00:00 +0530 Thu, 26 Dec 2019 17:43:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285101 The Tribunal allowed the appeals in the cases involving addition of unexplained investment in jewellery and unexplained cash credit, as well as the challenge to the validity of assessment orders under Section 263. The Tribunal directed the AO to rework the unexplained investment in jewellery, considering CBDT instructions, and deleted the addition of unexplained cash credit due to lack of incriminating material. It held that the CIT's revisionary powers under Section 263 were not justified in the absence of pending assessment proceedings and incriminating material, quashing the CIT's order and allowing the appeals. Case-Laws Income Tax Mon, 21 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285101