Failure to conduct enquiries with respect to abnormal cash deposits during Demonetization Period: ITAT upholds Revision Order [Read Order]

Demonetization Period - ITAT - abnormal cash - income tax news - taxscan

The Income Tax Appellate Tribunal (ITAT), Chandigarh bench, while upholding the revision order passed under section 263 of the Income Tax Act, 1961, held that the Assessing Officer failed to conduct inquiries with respect to abnormal cash deposits during the demonetization period. Assessee Ravi Sher Singh Toor is engaged in operating a Petrol Filling Station…

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