https://www.taxtmi.com/caselaws?id=794466 Revision under section 263 was not sustainable on rental income treated as business income and construction expenditure capitalised in the books, because the AO had adopted a plausible view based on the assessee's past treatment and no error prejudicial to the Revenue was shown. However, revision was justified on unsecured loans, since the AO had merely accepted creditors' replies without adequate examination or verification of the credits; that inadequate inquiry rendered the assessment erroneous and prejudicial to the Revenue on that issue. Partial relief was therefore granted, with only the unsecured loan verification aspect sustained. en-us Thu, 02 Jul 2026 00:00:00 +0530 Mon, 06 Jul 2026 08:26:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794466 Revision under section 263 was not sustainable on rental income treated as business income and construction expenditure capitalised in the books, because the AO had adopted a plausible view based on the assessee's past treatment and no error prejudicial to the Revenue was shown. However, revision was justified on unsecured loans, since the AO had merely accepted creditors' replies without adequate examination or verification of the credits; that inadequate inquiry rendered the assessment erroneous and prejudicial to the Revenue on that issue. Partial relief was therefore granted, with only the unsecured loan verification aspect sustained. Case-Laws Income Tax Thu, 02 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794466