https://www.taxtmi.com/caselaws?id=794464 Revisionary jurisdiction under section 263 was upheld where the AO completed reassessment under sections 147 and 144B without initiating penalty proceedings or making proper enquiry into the assessee's delayed return filing. The Tribunal held that the AO was required to examine the applicability of penalty provisions and carry out necessary verification before completing the assessment. Because that enquiry was omitted, the assessment was treated as erroneous and prejudicial to the interests of the Revenue, validating revision. en-us Tue, 30 Jun 2026 00:00:00 +0530 Mon, 06 Jul 2026 08:26:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794464 Revisionary jurisdiction under section 263 was upheld where the AO completed reassessment under sections 147 and 144B without initiating penalty proceedings or making proper enquiry into the assessee's delayed return filing. The Tribunal held that the AO was required to examine the applicability of penalty provisions and carry out necessary verification before completing the assessment. Because that enquiry was omitted, the assessment was treated as erroneous and prejudicial to the interests of the Revenue, validating revision. Case-Laws Income Tax Tue, 30 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794464