https://www.taxtmi.com/caselaws?id=786657 Principal issue: whether revisionary jurisdiction could be validly exercised where the assessment order was a one paragraph, cryptic record omitting inquiry on material issues. The Tribunal found the assessment erroneous and prejudicial to revenue because it lacked application of mind and necessary enquiries, and upheld setting aside the assessment under revisionary power, remitting the matter for fresh assessment. On whether receipts to the trust fall outside the exclusion for trusts created solely for relatives, the trust deed permitted addition of non relatives, so the proviso was not attracted on its terms and the receipt is prima facie taxable under the gift receipt provision unless examined and decided afresh. en-us Thu, 12 Feb 2026 00:00:00 +0530 Tue, 17 Feb 2026 07:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786657 Principal issue: whether revisionary jurisdiction could be validly exercised where the assessment order was a one paragraph, cryptic record omitting inquiry on material issues. The Tribunal found the assessment erroneous and prejudicial to revenue because it lacked application of mind and necessary enquiries, and upheld setting aside the assessment under revisionary power, remitting the matter for fresh assessment. On whether receipts to the trust fall outside the exclusion for trusts created solely for relatives, the trust deed permitted addition of non relatives, so the proviso was not attracted on its terms and the receipt is prima facie taxable under the gift receipt provision unless examined and decided afresh. Case-Laws Income Tax Thu, 12 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786657