https://www.taxtmi.com/highlights?id=75209 Revision u/s 263 - unexplained cash deposits - The tribunal rejected the notion that unexplained deposits prior to withdrawals undermined the explanation provided by the appellant. - Regarding the PCIT's assertion of the AO's mistake in not making the addition, the tribunal stated that an assessment order must be interpreted as is, without assumptions or postulations. If the AO had indeed erred, avenues for correction, such as rectification under Section 154 of the Act, were available but not utilized. en-us Tue, 27 Feb 2024 12:45:15 +0530 Tue, 27 Feb 2024 12:45:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75209 Revision u/s 263 - unexplained cash deposits - The tribunal rejected the notion that unexplained deposits prior to withdrawals undermined the explanation provided by the appellant. - Regarding the PCIT's assertion of the AO's mistake in not making the addition, the tribunal stated that an assessment order must be interpreted as is, without assumptions or postulations. If the AO had indeed erred, avenues for correction, such as rectification under Section 154 of the Act, were available but not utilized. Highlights Income Tax Tue, 27 Feb 2024 12:45:15 +0530 https://www.taxtmi.com/highlights?id=75209