S. 263 : Commissioner-Revision of orders prejudicial to revenue-Deposit of cash during demonetisation-Non-co-operation and noncompliance of assessee to furnish details to A.O.-Estimation of net profit at 5% by AO without any basis and without consulting any records-Revision is valid. [S. 44AD, 144]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Best judgement assessment-Failure to serve notice under 143(2)-Invalid assessment cannot be subject matter of revision.[S. 143(2), 144].

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Business expenditure-Payment in cash in excess of prescribed limit-No dispute as to genuineness of transaction-Assessee taking loan from family members and making payment to sellers of land in cash-Disallowance not attracted to cash transaction for support to family members in immediate business needs-AO did not initiate penalty proceedings after due consideration-Order not prejudicial to revenue-Revision not justified. [S. 40A(3), 44AD, 269SS, 271D]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash deposits during demonetisation-AO raised detailed questions and assessee filed responses-AO applied mind to facts-Order of revision quashed.

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital Gains-Exemption-Assessee given one more opportunity-Order of PCIT set aside-Matter remanded-Assessee to furnish all information. [S. 54]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital or Revenue expenditure-Consumables revenue expenditure allowable in the year in which put in line of production-Allowance in previous years not erroneous-AO taking sustainable view after enquiry-Revision not warranted. [S. 37(1)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Possible view taken by A.O. after pursuing all the evidences-In line with view taken by Tribunal-Revision not warranted. [S.2(47)(v), 54F, 143(3), Transfer of Property Act, 1882, S. 53A]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Not following the order of Tribunal-Revision proposed by PCIT held in favour of assessee in earlier years-Weightage to tribunal order not given-Against fundamental Principles of judicial discipline-Revision not sustainable.[S. 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-AO calling for details of advertisement and sales promotion during assessment-Possible view taken after going through evidences-A.O. order not erroneous-PCIT not justified-Revision not warranted.[S. 143(3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Failure to verify wages expenditure-Failure to deduct tax at on payments-Casual labour accepted without verification-AO accepted certificates filed by assessee without recording reasons-Revision justified. [S. 37(1), 40 (a) (ia), 143(3)]