https://www.taxtmi.com/caselaws?id=466214 Revision under section 263 challenged the assessment acceptance of unsecured loans from a company shown as struck off. The tribunal held the AO had conducted adequate enquiry and verified documents, so the AOs opinion on correctness cannot be displaced by revision merely because a superior officer disagrees; therefore the revision order was quashed as not erroneous or prejudicial to revenue. A separate ground on provident fund contribution was dismissed as covered adversely by binding precedent. Appeal was partly allowed with the revision on unsecured loans set aside and the PF issue decided against the assessee. en-us Thu, 23 Nov 2023 00:00:00 +0530 Thu, 29 Jan 2026 19:07:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466214 Revision under section 263 challenged the assessment acceptance of unsecured loans from a company shown as struck off. The tribunal held the AO had conducted adequate enquiry and verified documents, so the AOs opinion on correctness cannot be displaced by revision merely because a superior officer disagrees; therefore the revision order was quashed as not erroneous or prejudicial to revenue. A separate ground on provident fund contribution was dismissed as covered adversely by binding precedent. Appeal was partly allowed with the revision on unsecured loans set aside and the PF issue decided against the assessee. Case-Laws Income Tax Thu, 23 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466214