https://www.taxtmi.com/caselaws?id=791940 Section 263 revision could not be sustained where the reassessment order was not shown to be erroneous or prejudicial merely because a different tax view was possible. Jewellery purchase expenditure found during search was treated as having been incurred by the company from unaccounted cash generated through bogus billing, and the record did not establish any employer-employee relationship necessary to tax the amount as a perquisite under section 17(2). On those facts, addition in the assessee's hands under section 17(2) was unjustified and revision was not warranted. en-us Mon, 18 May 2026 00:00:00 +0530 Wed, 20 May 2026 08:31:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791940 Section 263 revision could not be sustained where the reassessment order was not shown to be erroneous or prejudicial merely because a different tax view was possible. Jewellery purchase expenditure found during search was treated as having been incurred by the company from unaccounted cash generated through bogus billing, and the record did not establish any employer-employee relationship necessary to tax the amount as a perquisite under section 17(2). On those facts, addition in the assessee's hands under section 17(2) was unjustified and revision was not warranted. Case-Laws Income Tax Mon, 18 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791940