https://www.taxtmi.com/caselaws?id=433370 The Court upheld the Principal Commissioner of Income Tax's decision under section 263 for assessment years 2012-13 and 2015-16. It dismissed the grounds raised by the assessee, finding discrepancies in invoices and insufficient evidence supporting cash deposits as agricultural income. The Court emphasized the AO's failure to conduct thorough verification despite reopening assessment, leading to the dismissal of the appeals for both years. The decision for 2012-13 was applied mutatis mutandis to 2015-16, affirming the PCIT's revision order. en-us Fri, 02 Dec 2022 00:00:00 +0530 Sat, 28 Jan 2023 08:26:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433370 The Court upheld the Principal Commissioner of Income Tax's decision under section 263 for assessment years 2012-13 and 2015-16. It dismissed the grounds raised by the assessee, finding discrepancies in invoices and insufficient evidence supporting cash deposits as agricultural income. The Court emphasized the AO's failure to conduct thorough verification despite reopening assessment, leading to the dismissal of the appeals for both years. The decision for 2012-13 was applied mutatis mutandis to 2015-16, affirming the PCIT's revision order. Case-Laws Income Tax Fri, 02 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433370