https://www.taxtmi.com/caselaws?id=374665 HC held that the only limitation on the CIT's revision u/s 263 is the need for material enabling a prima facie opinion that the AO's order is erroneous and prejudicial to revenue. Once such material exists, the CIT may enhance, modify or cancel the assessment and direct fresh assessment. The CIT, after detailed consideration, enhanced the declared income by Rs. 1,83,80,208/-. The court directed the Registry to send this order to the CBDT to instruct AOs to properly scrutinise search/survey cases and to record reasoned findings when accepting or rejecting books of account, not cursory notes. en-us Thu, 27 Sep 2018 00:00:00 +0530 Mon, 22 Sep 2025 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374665 HC held that the only limitation on the CIT's revision u/s 263 is the need for material enabling a prima facie opinion that the AO's order is erroneous and prejudicial to revenue. Once such material exists, the CIT may enhance, modify or cancel the assessment and direct fresh assessment. The CIT, after detailed consideration, enhanced the declared income by Rs. 1,83,80,208/-. The court directed the Registry to send this order to the CBDT to instruct AOs to properly scrutinise search/survey cases and to record reasoned findings when accepting or rejecting books of account, not cursory notes. Case-Laws Income Tax Thu, 27 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374665