https://www.taxtmi.com/caselaws?id=786483 Whether revisionary jurisdiction can be invoked where a reassessment under Section 147 was completed without necessary inquiries into large trading losses and possible bogus entries; the tribunal held that absence of evidence showing the assessing officer conducted or considered required transactional verification rendered the assessment erroneous and prejudicial to revenue, authorising exercise of revisionary power to set aside the assessment and direct fresh adjudication. Appeal against the revision order was dismissed. en-us Fri, 06 Feb 2026 00:00:00 +0530 Fri, 13 Feb 2026 09:18:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786483 Whether revisionary jurisdiction can be invoked where a reassessment under Section 147 was completed without necessary inquiries into large trading losses and possible bogus entries; the tribunal held that absence of evidence showing the assessing officer conducted or considered required transactional verification rendered the assessment erroneous and prejudicial to revenue, authorising exercise of revisionary power to set aside the assessment and direct fresh adjudication. Appeal against the revision order was dismissed. Case-Laws Income Tax Fri, 06 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786483