https://www.taxtmi.com/caselaws?id=782629 ITAT Raipur dismissed the assessee's appeal and upheld the Pr. CIT's revision u/s 263. It held that the assessment, framed by summarily accepting the returned income and replies, was made without requisite inquiry or verification regarding underassessment of income from liquor business and applicability of audit provisions u/s 44AB, given the turnover of Rs. 8.28 crore. Applying s. 263 read with Expl. 2, and relying on SC precedent that lack of inquiry causing revenue loss renders an order erroneous and prejudicial to the interests of Revenue, the Tribunal sustained the revisional jurisdiction exercised by the Pr. CIT. en-us Mon, 03 Nov 2025 00:00:00 +0530 Tue, 02 Dec 2025 08:35:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782629 ITAT Raipur dismissed the assessee's appeal and upheld the Pr. CIT's revision u/s 263. It held that the assessment, framed by summarily accepting the returned income and replies, was made without requisite inquiry or verification regarding underassessment of income from liquor business and applicability of audit provisions u/s 44AB, given the turnover of Rs. 8.28 crore. Applying s. 263 read with Expl. 2, and relying on SC precedent that lack of inquiry causing revenue loss renders an order erroneous and prejudicial to the interests of Revenue, the Tribunal sustained the revisional jurisdiction exercised by the Pr. CIT. Case-Laws Income Tax Mon, 03 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782629