https://www.taxtmi.com/caselaws?id=429037 The tribunal upheld the Principal Commissioner's decision to set aside the assessment under section 263 of the Income Tax Act, 1961 for Assessment Year 2017-18. The revision was based on discrepancies in the claimed agricultural income and cash deposits during demonetization, lacking proper verification by the Assessing Officer. The tribunal emphasized the importance of thorough verification by tax authorities for accurate income assessment and compliance with tax laws. en-us Thu, 29 Sep 2022 00:00:00 +0530 Sat, 15 Oct 2022 18:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429037 The tribunal upheld the Principal Commissioner's decision to set aside the assessment under section 263 of the Income Tax Act, 1961 for Assessment Year 2017-18. The revision was based on discrepancies in the claimed agricultural income and cash deposits during demonetization, lacking proper verification by the Assessing Officer. The tribunal emphasized the importance of thorough verification by tax authorities for accurate income assessment and compliance with tax laws. Case-Laws Income Tax Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429037