https://www.taxtmi.com/caselaws?id=466958 The text analyses the test for exercise of revisionary jurisdiction under Section 263 of the Income tax Act, requiring an assessment to be erroneous and prejudicial to the revenue, and applies that principle to facts where the same issue had been reopened and the assessing officer, after reviewing detailed replies and records, found no bogus or accommodation entry and no undisclosed income; accordingly the preconditions for invoking Section 263 were not satisfied and the assumption of revisionary jurisdiction was held unjustified in favour of the assessee. en-us Mon, 27 Feb 2023 00:00:00 +0530 Fri, 27 Feb 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466958 The text analyses the test for exercise of revisionary jurisdiction under Section 263 of the Income tax Act, requiring an assessment to be erroneous and prejudicial to the revenue, and applies that principle to facts where the same issue had been reopened and the assessing officer, after reviewing detailed replies and records, found no bogus or accommodation entry and no undisclosed income; accordingly the preconditions for invoking Section 263 were not satisfied and the assumption of revisionary jurisdiction was held unjustified in favour of the assessee. Case-Laws Income Tax Mon, 27 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466958