https://www.taxtmi.com/caselaws?id=772097 ITAT Delhi upheld PCIT's revision u/s 263 against assessee's assessment orders u/s 147. AO had accepted assessee's explanation for cash deposits of Rs. 3.27 crores across multiple years as sports trading income without evidence. PCIT found multiple anomalies in business conduct and noted assessee never previously declared sports trading income. ITAT agreed assessment orders were erroneous and prejudicial to revenue, as AO conducted no proper inquiry before accepting explanations. Appeal decided against assessee. en-us Fri, 28 Mar 2025 00:00:00 +0530 Wed, 04 Jun 2025 08:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772097 ITAT Delhi upheld PCIT's revision u/s 263 against assessee's assessment orders u/s 147. AO had accepted assessee's explanation for cash deposits of Rs. 3.27 crores across multiple years as sports trading income without evidence. PCIT found multiple anomalies in business conduct and noted assessee never previously declared sports trading income. ITAT agreed assessment orders were erroneous and prejudicial to revenue, as AO conducted no proper inquiry before accepting explanations. Appeal decided against assessee. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772097