https://www.taxtmi.com/caselaws?id=434808 The Tribunal allowed the assessee's appeal, setting aside the Principal Commissioner of Income Tax's revision order under section 263. It held that the Assessing Officer had conducted adequate inquiries regarding cash deposits during the demonetization period, and the Principal Commissioner's order was not justified. The decision was based on various judicial precedents emphasizing the limitations of the Principal Commissioner's revisionary powers and the distinction between lack of inquiry and inadequate inquiry. en-us Wed, 22 Feb 2023 00:00:00 +0530 Sat, 04 Mar 2023 07:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434808 The Tribunal allowed the assessee's appeal, setting aside the Principal Commissioner of Income Tax's revision order under section 263. It held that the Assessing Officer had conducted adequate inquiries regarding cash deposits during the demonetization period, and the Principal Commissioner's order was not justified. The decision was based on various judicial precedents emphasizing the limitations of the Principal Commissioner's revisionary powers and the distinction between lack of inquiry and inadequate inquiry. Case-Laws Income Tax Wed, 22 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434808