https://www.taxtmi.com/caselaws?id=63489 Section 263 revision was held unsustainable where the assessment had been completed after scrutiny, notices under section 143(2) were issued, and the record showed application of mind to a private family trust with specified beneficiaries. The Tribunal held that revision requires an actual error of fact or law causing prejudice to revenue, not suspicion, conjecture, or a desire for further fishing enquiries. It further held that the absence of extensive notes, tick-marks, or additional enquiries by itself does not establish lack of enquiry where the material on record reasonably supports the assessment. The Commissioner's revision was set aside and the assessment order restored. en-us Thu, 17 Aug 1989 00:00:00 +0530 Mon, 31 Jan 2011 12:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63489 Section 263 revision was held unsustainable where the assessment had been completed after scrutiny, notices under section 143(2) were issued, and the record showed application of mind to a private family trust with specified beneficiaries. The Tribunal held that revision requires an actual error of fact or law causing prejudice to revenue, not suspicion, conjecture, or a desire for further fishing enquiries. It further held that the absence of extensive notes, tick-marks, or additional enquiries by itself does not establish lack of enquiry where the material on record reasonably supports the assessment. The Commissioner's revision was set aside and the assessment order restored. Case-Laws Income Tax Thu, 17 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63489