https://www.taxtmi.com/caselaws?id=756074 Section 263 revision is attracted only where the assessment is both erroneous and prejudicial to the interests of the revenue; absence of enquiry or verification may justify revision under Explanation 2, but the factual record must still support that jurisdictional finding. The Tribunal may examine whether the AO made requisite enquiries and may reappreciate material to test the revision order. The text also notes that a Special Leave Petition filed with a gross delay of 484 days was not condoned because the explanation was unsatisfactory, and the condonation application was dismissed. en-us Thu, 11 Jul 2024 00:00:00 +0530 Thu, 25 Jul 2024 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756074 Section 263 revision is attracted only where the assessment is both erroneous and prejudicial to the interests of the revenue; absence of enquiry or verification may justify revision under Explanation 2, but the factual record must still support that jurisdictional finding. The Tribunal may examine whether the AO made requisite enquiries and may reappreciate material to test the revision order. The text also notes that a Special Leave Petition filed with a gross delay of 484 days was not condoned because the explanation was unsatisfactory, and the condonation application was dismissed. Case-Laws Income Tax Thu, 11 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756074