https://www.taxtmi.com/caselaws?id=795685 Revision under section 263 cannot rest on allegations of inadequate enquiry where the Assessing Officer sought and considered relevant material on the source of funds and the genuineness of the valuation-related agreement, and made additions for unexplained investment. An assessment is not erroneous and prejudicial merely because further enquiries could have been pursued. The revision proceedings also failed to consider a subsequent rectification order that made an additional unexplained-investment addition. The revisionary order was therefore invalid and quashed. en-us Thu, 11 Jun 2026 00:00:00 +0530 Sat, 25 Jul 2026 08:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795685 Revision under section 263 cannot rest on allegations of inadequate enquiry where the Assessing Officer sought and considered relevant material on the source of funds and the genuineness of the valuation-related agreement, and made additions for unexplained investment. An assessment is not erroneous and prejudicial merely because further enquiries could have been pursued. The revision proceedings also failed to consider a subsequent rectification order that made an additional unexplained-investment addition. The revisionary order was therefore invalid and quashed. Case-Laws Income Tax Thu, 11 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795685