https://www.taxtmi.com/caselaws?id=773590 Revision under section 263 of the Income-tax Act could not be sustained where the alleged error and prejudice were founded on a property transaction relating to a different assessment year. The record showed that the residential flat purchase took place on 03.08.2021 in financial year 2021-22, relevant to assessment year 2022-23, while the assessment sought to be revised pertained to assessment year 2021-22. On that factual basis, the revisional jurisdiction was held to be without jurisdiction, the revisionary order was set aside, and the original assessment order was restored. en-us Tue, 17 Jun 2025 00:00:00 +0530 Wed, 25 Jun 2025 09:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773590 Revision under section 263 of the Income-tax Act could not be sustained where the alleged error and prejudice were founded on a property transaction relating to a different assessment year. The record showed that the residential flat purchase took place on 03.08.2021 in financial year 2021-22, relevant to assessment year 2022-23, while the assessment sought to be revised pertained to assessment year 2021-22. On that factual basis, the revisional jurisdiction was held to be without jurisdiction, the revisionary order was set aside, and the original assessment order was restored. Case-Laws Income Tax Tue, 17 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773590