https://www.taxtmi.com/caselaws?id=440463 The Tribunal set aside the Principal Commissioner of Income Tax's order invoking Section 263 of the Income Tax Act, finding it unsustainable. The Tribunal upheld the assessment order passed by the Assessing Officer, ruling that the addition of only 20% of cash deposits during demonetization was appropriate considering the nature of the assessee's business. The appeal of the assessee was allowed, and the Tribunal's decision was pronounced on 09th June 2023 in Ahmedabad. en-us Fri, 09 Jun 2023 00:00:00 +0530 Tue, 18 Jul 2023 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440463 The Tribunal set aside the Principal Commissioner of Income Tax's order invoking Section 263 of the Income Tax Act, finding it unsustainable. The Tribunal upheld the assessment order passed by the Assessing Officer, ruling that the addition of only 20% of cash deposits during demonetization was appropriate considering the nature of the assessee's business. The appeal of the assessee was allowed, and the Tribunal's decision was pronounced on 09th June 2023 in Ahmedabad. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440463