https://www.taxtmi.com/caselaws?id=423117 The Tribunal allowed the Assessee's appeal by condoning the delay in filing, finding the reasons provided satisfactory. It held the revision order under section 263 of the Income Tax Act invalid, as the Assessing Officer had conducted a proper enquiry into cash deposits. The Tribunal concluded that the PCIT's decision lacked merit, as the cash deposits were adequately explained and verified. Consequently, the revision order was quashed, and the Assessee's appeal was allowed based on the genuine nature of the transactions and the thorough investigation conducted by the Assessing Officer. en-us Fri, 06 May 2022 00:00:00 +0530 Mon, 30 May 2022 08:46:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423117 The Tribunal allowed the Assessee's appeal by condoning the delay in filing, finding the reasons provided satisfactory. It held the revision order under section 263 of the Income Tax Act invalid, as the Assessing Officer had conducted a proper enquiry into cash deposits. The Tribunal concluded that the PCIT's decision lacked merit, as the cash deposits were adequately explained and verified. Consequently, the revision order was quashed, and the Assessee's appeal was allowed based on the genuine nature of the transactions and the thorough investigation conducted by the Assessing Officer. Case-Laws Income Tax Fri, 06 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423117