https://www.taxtmi.com/caselaws?id=435086 The Tribunal found in favor of the assessee, ruling that the Principal Commissioner of Income Tax's order under Section 263 was not sustainable. The Assessing Officer had adequately verified the source of cash deposits and the assessee had provided satisfactory explanations. Furthermore, the closure of the case under the Vivad Se Vishwas Scheme prevented any further proceedings under Section 263. The Tribunal allowed the appeal, cancelling the PCIT's order as being legally flawed. en-us Thu, 02 Mar 2023 00:00:00 +0530 Sat, 11 Mar 2023 08:49:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435086 The Tribunal found in favor of the assessee, ruling that the Principal Commissioner of Income Tax's order under Section 263 was not sustainable. The Assessing Officer had adequately verified the source of cash deposits and the assessee had provided satisfactory explanations. Furthermore, the closure of the case under the Vivad Se Vishwas Scheme prevented any further proceedings under Section 263. The Tribunal allowed the appeal, cancelling the PCIT's order as being legally flawed. Case-Laws Income Tax Thu, 02 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435086