2025 (10) TMI 137

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.... of appeal:- "1. That the revision order passed u/s 263 of the Act by the learned PCIT, Ahmedabad-1 is bad in law and facts and therefore the impugned order passed by Ld. PCIT is required to be quashed and the direction made therein are to be dropped. 2. That your appellant craves a leave to add, alter or amend any grounds at or before the time of hearing." 3. The brief facts of the case are that Principal CIT observed that during a search at the premises of Shri Renuka Mata Multi State Urban Co-operative Society, various incriminating documents and soft data were found and seized, including data related to the assessee. The analysis of data revealed that the assessee had made deposits in an account maintained with the ....

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....h was invoked in relation to a reassessment order passed under section 147 of the Act. In the reassessment proceeding after considering the submissions made by the assessee, the Assessing Officer accepted the return of income filed by the assessee. The Counsel for the assessee submitted that since the reassessment order was passed based on the submission made by the assessee, it cannot be said that the order of the A.O. was erroneous, and therefore, invoking section 263 of the Act is incorrect and not in accordance with the law. Secondly, the Counsel for the assessee submitted that initiating the present 263 proceedings for the same issue more than once constitutes a multiplicity of proceedings, which is impermissible. Thirdly, the Counsel ....

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.... the course of appellate proceedings, wherein it was submitted that the aforesaid bank account was never operated by the assessee. The counsel for the assessee submitted that it was the father of the assessee who was operating the bank account, without the knowledge of the assessee and the assessee had no information regarding the deposits which were made in the aforesaid bank account. However, we note that this crucial aspect was not enquired by the assessing officer during the course of assessment proceedings and on going through the notice of hearing issued by the assessing officer, we are of the considered view that there was an evident lack of enquiry with regard to the source of deposits in the aforesaid bank account. Further, we also....