2025 (2) TMI 1681

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....R SATBEER SINGH GODARA, JUDICIAL MEMBER: These assessee's twin appeals ITA No. 83 & 84/Agr/2023 for assessment years 2015-16 and 2017-18; arise against the Pr. Commissioner of Income Tax-1(in short, the "PCIT), Gwalior's orders no. ITBA/Rev/M/Rev5/2022-23/1051738246(1) and ITBA/Rev/M/Rev5/2022- 23/1051735989(1) both dated 27.09.2024, involving proceedings under section 263 of the Income-tax Act....

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....vision directions forming the subject matter of challenge, ought to be upheld. 4. We find no merit in the Revenue's contentions. We make it clear that the Assessing Officer's identical twin assessments have not only held the assessee as engaged in live stock trading business but also treated his cash deposits as business turnover only, for the purpose of assessing the same at a uniform rate of ....