https://www.taxtmi.com/caselaws?id=470009 Revision under Section 263 is described as unsustainable where it rests on the incorrect factual assumption that the assessee failed to intimate its settlement application through Form No. 34BA under Section 245C(4). For years assessed under Section 153C, the note states that completed assessments can be disturbed only on the basis of incriminating material found during search, and an estimated disclosure made before the Settlement Commission is not, by itself, such incriminating seized material. For a regular assessment under Section 143(3), the same premise also fails if the intimation was in fact furnished and no other assessment error is identified. On that basis, the revision orders, consequential fresh assessments, and related appellate orders are stated to lack legal foundation. en-us Fri, 22 Mar 2024 00:00:00 +0530 Mon, 13 Jul 2026 13:15:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470009 Revision under Section 263 is described as unsustainable where it rests on the incorrect factual assumption that the assessee failed to intimate its settlement application through Form No. 34BA under Section 245C(4). For years assessed under Section 153C, the note states that completed assessments can be disturbed only on the basis of incriminating material found during search, and an estimated disclosure made before the Settlement Commission is not, by itself, such incriminating seized material. For a regular assessment under Section 143(3), the same premise also fails if the intimation was in fact furnished and no other assessment error is identified. On that basis, the revision orders, consequential fresh assessments, and related appellate orders are stated to lack legal foundation. Case-Laws Income Tax Fri, 22 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470009