https://www.taxtmi.com/caselaws?id=439039 Revision under section 263 could not be sustained where the assessment record showed enquiry into demonetisation cash deposits, including questionnaires, replies, bank statements and debtor details, and the Assessing Officer accepted the assessee's explanation after considering the material. The absence of an elaborate discussion in the assessment order did not by itself show lack of enquiry or non-application of mind. Since the Assessing Officer had adopted one plausible view on the facts, the assessment was not erroneous and prejudicial to the interests of the Revenue, and the revisionary interference was set aside. en-us Mon, 12 Jun 2023 00:00:00 +0530 Mon, 18 Sep 2023 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439039 Revision under section 263 could not be sustained where the assessment record showed enquiry into demonetisation cash deposits, including questionnaires, replies, bank statements and debtor details, and the Assessing Officer accepted the assessee's explanation after considering the material. The absence of an elaborate discussion in the assessment order did not by itself show lack of enquiry or non-application of mind. Since the Assessing Officer had adopted one plausible view on the facts, the assessment was not erroneous and prejudicial to the interests of the Revenue, and the revisionary interference was set aside. Case-Laws Income Tax Mon, 12 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439039