ITAT Raipur Judgments — November 2023

The Tribunal held that the Pr. CIT's assumption of jurisdiction under Section 263 was justified due to the AO's failure to conduct necessary inquiries. The matter was restored to the AO for fresh adjudication, with the assessee given an opportunity to present all explanations.

The Tribunal noted that the issues in the current appeal were similar to a previous year's appeal. Due to the need to consider additional documentary evidence and address an additional ground of appeal, the matter was restored to the CIT(Appeals) for re-adjudication.

The Tribunal held that the assessee failed to discharge the onus of proving the source of the cash deposit. However, a reasonable amount of cash in hand was accepted on an estimated basis.

The Tribunal condoned the 2-day delay in filing the appeal, stating it was due to genuine procedural reasons and not the assessee's fault. The appeal was then admitted for hearing on its merits.