https://www.taxtmi.com/caselaws?id=781579 ITAT held that the Pr. CIT's invocation of s. 263 was unjustified and allowed the appeal. The AO's treatment of cash bank deposits for AY 2018-19 as business receipts and estimation of profit (consistent with AY 2017-18) was a plausible view, not erroneous or prejudicial to revenue, despite the assessee's non-response to notices under s. 147. Consequently, the addition of entire cash deposits as unexplained income under s. 69A was not sustained. en-us Thu, 17 Jul 2025 00:00:00 +0530 Tue, 18 Nov 2025 10:56:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781579 ITAT held that the Pr. CIT's invocation of s. 263 was unjustified and allowed the appeal. The AO's treatment of cash bank deposits for AY 2018-19 as business receipts and estimation of profit (consistent with AY 2017-18) was a plausible view, not erroneous or prejudicial to revenue, despite the assessee's non-response to notices under s. 147. Consequently, the addition of entire cash deposits as unexplained income under s. 69A was not sustained. Case-Laws Income Tax Thu, 17 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781579