https://www.taxtmi.com/caselaws?id=773903 Gujarat HC dismissed petitions challenging revision u/s 263 as not entertainable, following precedent in Piyara Lal case. PCIT found AO completed assessment u/s 143(3) without proper verification of asset value differences, purchase discrepancies, and post-demonetization cash deposits. Court noted AO failed to verify cash deposits per SOP requirements covering various categories including exempt receipts and unidentifiable sources. Petitioners directed to submit objections within four weeks, with respondents required to consider objections on merits and decide notices according to law. en-us Fri, 20 Jun 2025 00:00:00 +0530 Mon, 30 Jun 2025 08:43:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773903 Gujarat HC dismissed petitions challenging revision u/s 263 as not entertainable, following precedent in Piyara Lal case. PCIT found AO completed assessment u/s 143(3) without proper verification of asset value differences, purchase discrepancies, and post-demonetization cash deposits. Court noted AO failed to verify cash deposits per SOP requirements covering various categories including exempt receipts and unidentifiable sources. Petitioners directed to submit objections within four weeks, with respondents required to consider objections on merits and decide notices according to law. Case-Laws Income Tax Fri, 20 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773903