https://www.taxtmi.com/caselaws?id=785282 Revision under section 263 was considered on the adequacy of the AOs inquiry into large cash deposits purportedly explained by a sale; the AO accepted unsupported affidavits and failed to probe sources exceeding the sale consideration and the assessees share, thereby causing prejudice to revenue. The Pr.CIT concluded the AOs order was erroneous and prejudicial for not examining the source of the excess cash, and the revision was sustained, resulting in the AOs order being set aside insofar as it failed to discharge proper inquiry and safeguard revenue interests. en-us Fri, 19 Dec 2025 00:00:00 +0530 Wed, 21 Jan 2026 08:41:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785282 Revision under section 263 was considered on the adequacy of the AOs inquiry into large cash deposits purportedly explained by a sale; the AO accepted unsupported affidavits and failed to probe sources exceeding the sale consideration and the assessees share, thereby causing prejudice to revenue. The Pr.CIT concluded the AOs order was erroneous and prejudicial for not examining the source of the excess cash, and the revision was sustained, resulting in the AOs order being set aside insofar as it failed to discharge proper inquiry and safeguard revenue interests. Case-Laws Income Tax Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785282