https://www.taxtmi.com/caselaws?id=789763 Section 263 revision was held unsustainable because the Assessing Officer had adopted a legally supportable view by taxing only the profit element embedded in disputed purchases after examining invoices, bank records, e-way bills, goods-receipt evidence and undisputed sales. The revisionary authority failed to identify any specific factual or legal error in the assessment and merely sought to substitute a 100% disallowance for the original estimate. As the assessment order was neither erroneous nor prejudicial to the interests of the Revenue on the record, the direction to disallow the entire purchases was set aside. en-us Fri, 10 Apr 2026 00:00:00 +0530 Tue, 14 Apr 2026 08:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789763 Section 263 revision was held unsustainable because the Assessing Officer had adopted a legally supportable view by taxing only the profit element embedded in disputed purchases after examining invoices, bank records, e-way bills, goods-receipt evidence and undisputed sales. The revisionary authority failed to identify any specific factual or legal error in the assessment and merely sought to substitute a 100% disallowance for the original estimate. As the assessment order was neither erroneous nor prejudicial to the interests of the Revenue on the record, the direction to disallow the entire purchases was set aside. Case-Laws Income Tax Fri, 10 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789763