https://www.taxtmi.com/caselaws?id=465865 The challenge concerned revision under Section 263 based on alleged excess exemption for dividend income and unsecured loans. The High Court had held that the Tribunal, on scrutiny of the record, found the PCIT's reliance on Explanation 2 to Section 263-premised on alleged failure of the AO to make inquiries or verification-was unsupported by the record, and that the revision order was without jurisdiction. The Supreme Court found no basis to condone a 281-day delay in filing the petition and found no reason to interfere on merits, so the condonation application and special leave petitions were dismissed. en-us Fri, 09 Jan 2026 00:00:00 +0530 Mon, 19 Jan 2026 15:34:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465865 The challenge concerned revision under Section 263 based on alleged excess exemption for dividend income and unsecured loans. The High Court had held that the Tribunal, on scrutiny of the record, found the PCIT's reliance on Explanation 2 to Section 263-premised on alleged failure of the AO to make inquiries or verification-was unsupported by the record, and that the revision order was without jurisdiction. The Supreme Court found no basis to condone a 281-day delay in filing the petition and found no reason to interfere on merits, so the condonation application and special leave petitions were dismissed. Case-Laws Income Tax Fri, 09 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465865