https://www.taxtmi.com/caselaws?id=68837 The Tribunal upheld the Commissioner's decision to revise the assessment under section 263, considering post-assessment survey results as part of the "record." The reassessment was directed to verify the genuineness of cash credits, amounting to Rs. 10,90,687, shown in the balance-sheet as borrowings. The Tribunal emphasized the necessity of conducting proper inquiries to ensure accurate assessments and protect Revenue's interests, dismissing the appeal challenging the revision. en-us Mon, 07 Aug 1989 00:00:00 +0530 Sat, 02 Apr 2011 10:20:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68837 The Tribunal upheld the Commissioner's decision to revise the assessment under section 263, considering post-assessment survey results as part of the "record." The reassessment was directed to verify the genuineness of cash credits, amounting to Rs. 10,90,687, shown in the balance-sheet as borrowings. The Tribunal emphasized the necessity of conducting proper inquiries to ensure accurate assessments and protect Revenue's interests, dismissing the appeal challenging the revision. Case-Laws Income Tax Mon, 07 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68837