https://www.taxtmi.com/caselaws?id=176341 Section 263 revision was held unavailable where the Assessing Officer had made enquiries into the genuineness of the jewellery sale, examined supporting documents, and taken a possible view on the material before him. The order was not shown to be erroneous or prejudicial to the Revenue merely because the Commissioner wanted a deeper enquiry. The Tribunal also held that post-assessment material gathered independently through the Investigation Wing could not be treated as part of the assessment record for assuming revisional jurisdiction. Section 263 requires objective material from the concluded assessment record itself, not a roving or self-created basis for revision. en-us Wed, 15 Jul 2009 00:00:00 +0530 Sat, 19 Dec 2015 16:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176341 Section 263 revision was held unavailable where the Assessing Officer had made enquiries into the genuineness of the jewellery sale, examined supporting documents, and taken a possible view on the material before him. The order was not shown to be erroneous or prejudicial to the Revenue merely because the Commissioner wanted a deeper enquiry. The Tribunal also held that post-assessment material gathered independently through the Investigation Wing could not be treated as part of the assessment record for assuming revisional jurisdiction. Section 263 requires objective material from the concluded assessment record itself, not a roving or self-created basis for revision. Case-Laws Income Tax Wed, 15 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176341