SHRI GAUTAM R. DESAI,VALSAD vs. THE PR. CIT, VALSAD

ITA 883/AHD/2017Status: DisposedITAT Surat11 December 2018AY 2007-087 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the AO had made sufficient inquiries regarding the cash deposits by issuing notices under Section 142(1) and examining the bank statements provided by the assessee. Therefore, the invocation of Section 263 was not permissible.

What were the facts?

The assessee's appeals were against the Principal Commissioner's order invoking Section 263. The PCIT alleged that the Assessing Officer (AO) had passed the assessment order without making sufficient inquiries regarding cash deposits in bank accounts.

What were the issues?

Whether the revisionary power under Section 263 was correctly invoked by the PCIT when the AO had made sufficient inquiries during the assessment proceedings.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 147,Section 142(1)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, SURAT

Before: SHRI C.M.GARG & SHRI O.P.MEENA

PER C.M.GARG, JUDICIAL MEMBER:

These three appeal filed by the Assessee against the order of Principal Commissioner of Income Tax, Valsad(‘CIT(A)’ for short) all dated 27.03.2017 for the Assessment Years(A.Y) 2007-08, 2008-09 and 2009-10. 2. The ld.Assessee’s Representative submitted that the assessee does not want to applications seeking admission of additional ground in 2 ITA No’s.883 to 885/Ahd/2017/SRT (A.Y’s: 2007-08 to 09-10) Gautam Ratilal Desai all

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 263

All 13,616 judgments and leading authorities on Section 263 →

Recent GST High Court judgments

Search GST case law →