https://www.taxtmi.com/caselaws?id=467577 Revision under section 263 of the Income-tax Act could not be sustained where the assessments had already treated the assessee's cash deposits as business turnover from livestock trading and taxed them on that basis. On those facts, the orders could not be characterised as passed without enquiry, and the jurisdictional requirement that the assessment be both erroneous and prejudicial to the Revenue was not met. The revisionary directions were therefore set aside and the assessee's appeals succeeded. en-us Mon, 17 Feb 2025 00:00:00 +0530 Tue, 24 Mar 2026 19:07:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467577 Revision under section 263 of the Income-tax Act could not be sustained where the assessments had already treated the assessee's cash deposits as business turnover from livestock trading and taxed them on that basis. On those facts, the orders could not be characterised as passed without enquiry, and the jurisdictional requirement that the assessment be both erroneous and prejudicial to the Revenue was not met. The revisionary directions were therefore set aside and the assessee's appeals succeeded. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467577