https://www.taxtmi.com/caselaws?id=470602 Revision under section 263 was considered valid where the Assessing Officer made no specific inquiry or verification into a material deduction claim or the applicability of dividend-stripping provisions, despite complete scrutiny selection. Explanation 2(a) deems an assessment order erroneous and prejudicial to Revenue when required inquiries or verification are not undertaken. The notes distinguish a complete absence of inquiry from inadequate inquiry and state that authorities involving actual inquiry or periods before Explanation 2 did not assist the assessee. The assessment order was therefore treated as erroneous and prejudicial to Revenue. en-us Mon, 24 Mar 2025 00:00:00 +0530 Fri, 31 Jul 2026 19:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470602 Revision under section 263 was considered valid where the Assessing Officer made no specific inquiry or verification into a material deduction claim or the applicability of dividend-stripping provisions, despite complete scrutiny selection. Explanation 2(a) deems an assessment order erroneous and prejudicial to Revenue when required inquiries or verification are not undertaken. The notes distinguish a complete absence of inquiry from inadequate inquiry and state that authorities involving actual inquiry or periods before Explanation 2 did not assist the assessee. The assessment order was therefore treated as erroneous and prejudicial to Revenue. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470602