https://www.taxtmi.com/caselaws?id=469783 Section 263 could not be used to revise an assessment order merely because the Assessing Officer had not initiated penalty proceedings under section 270A. The assessment order contained no finding of underreporting or misreporting, and penalty proceedings are distinct from assessment proceedings; without jurisdictional facts showing error and prejudice to the Revenue, the revisional authority could not substitute its view or compel initiation of penalty. The revisional order was therefore held to be without jurisdiction and quashed. en-us Mon, 10 Mar 2025 00:00:00 +0530 Fri, 03 Jul 2026 19:00:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469783 Section 263 could not be used to revise an assessment order merely because the Assessing Officer had not initiated penalty proceedings under section 270A. The assessment order contained no finding of underreporting or misreporting, and penalty proceedings are distinct from assessment proceedings; without jurisdictional facts showing error and prejudice to the Revenue, the revisional authority could not substitute its view or compel initiation of penalty. The revisional order was therefore held to be without jurisdiction and quashed. Case-Laws Income Tax Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469783