{"id":62167,"date":"2026-07-18T15:26:15","date_gmt":"2026-07-18T09:56:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/manuj-jain-huf-v-pcit-2025-132-itr-298-chd-trib\/"},"modified":"2026-07-18T15:26:15","modified_gmt":"2026-07-18T09:56:15","slug":"manuj-jain-huf-v-pcit-2025-132-itr-298-chd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/manuj-jain-huf-v-pcit-2025-132-itr-298-chd-trib\/","title":{"rendered":"Manuj Jain (HUF) v. PCIT (2025) 132 ITR 298 (Chd) (Trib.)"},"content":{"rendered":"<p style=\"margin: 0in;margin-bottom: .0001pt;text-align: justify;line-height: 150%\"><span lang=\"EN-IN\" style=\"font-family: &#039;Verdana&#039;,sans-serif\">The assessee&#8217;s return was accepted after complete scrutiny wherein the AO had called for and examined the assessee&#8217;s explanation regarding cash deposits of Rs. 38.37 lakhs made during the demonetisation period, verified the purchase bills, purchase account, mode of payment, confirmation from parties and the cash book relating to the assessee&#8217;s seasonal cloth trading business, and accepted the source of cash deposits as genuine sale proceeds; however, the PCIT invoked revision under section 263(1) holding that detailed and deeper enquiry ought to have been made. On appeal, the Tribunal held that since AO had carried out due enquiry, applied his mind and formed a reasonable view based on the material on record, and since PCIT, without bringing any fresh material or conducting any further enquiry of his own, merely re-appreciated the same material based on suspicion regarding the manner of conduct of business, the revisionary jurisdiction under section 263 could not be sustained; a solitary or seasonal trading activity duly supported by documentary evidence and accepted by AO after examination could not be revised merely on the belief that deeper enquiry was warranted, and the order of PCIT was accordingly set aside and the assessment order revived. (AY. 2017-18)<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263: Commissioner-Revision of orders prejudicial to revenue-Cash deposits during demonetisation period-Assessing Officer having made detailed enquiries regarding source of cash deposit and accepted explanation after verification-Principal Commissioner cannot invoke revision merely because he believes deeper enquiry was required-Revision unwarranted. [S. 143(2), 142(1)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-62167","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gaH","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=62167"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62167\/revisions"}],"predecessor-version":[{"id":62168,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62167\/revisions\/62168"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=62167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=62167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=62167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}