https://www.taxtmi.com/caselaws?id=450197 Section 263 revisional jurisdiction requires the revisional authority to independently apply its mind, record adequate reasons, and avoid a non-speaking order when treating an assessment as erroneous and prejudicial to the Revenue. The document also notes the linked tax issues of expenditure incurred before commencement of business and the carry-forward of business losses. It further records that, after the Section 263 exercise, a fresh assessment was passed and was stated to be under challenge before the ITAT, with the special leave petition dismissed. en-us Mon, 26 Feb 2024 00:00:00 +0530 Mon, 11 May 2026 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450197 Section 263 revisional jurisdiction requires the revisional authority to independently apply its mind, record adequate reasons, and avoid a non-speaking order when treating an assessment as erroneous and prejudicial to the Revenue. The document also notes the linked tax issues of expenditure incurred before commencement of business and the carry-forward of business losses. It further records that, after the Section 263 exercise, a fresh assessment was passed and was stated to be under challenge before the ITAT, with the special leave petition dismissed. Case-Laws Income Tax Mon, 26 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450197