https://www.taxtmi.com/caselaws?id=796488 Section 23 revision under the Black Money Act requires an assessment order to be both erroneous and prejudicial to Revenue interests; failure to conduct required inquiries or verification may satisfy that standard. Revision is not justified where the assessment record demonstrates repeated examination of a discretionary foreign trust, trustee minutes, alleged distributions, foreign assets and bank accounts, with explanations and compliance-scheme declarations already considered. Reassessment of material previously examined, without identifying falsity or a specific inquiry defect, amounts only to a possible difference of view. Assets declared under the compliance scheme and taxed with penalty are not again chargeable on beneficiary distribution, while unparticularised trustee minutes do not establish actual undisclosed receipts. en-us Mon, 19 Jan 2026 00:00:00 +0530 Thu, 06 Aug 2026 09:11:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796488 Section 23 revision under the Black Money Act requires an assessment order to be both erroneous and prejudicial to Revenue interests; failure to conduct required inquiries or verification may satisfy that standard. Revision is not justified where the assessment record demonstrates repeated examination of a discretionary foreign trust, trustee minutes, alleged distributions, foreign assets and bank accounts, with explanations and compliance-scheme declarations already considered. Reassessment of material previously examined, without identifying falsity or a specific inquiry defect, amounts only to a possible difference of view. Assets declared under the compliance scheme and taxed with penalty are not again chargeable on beneficiary distribution, while unparticularised trustee minutes do not establish actual undisclosed receipts. Case-Laws Income Tax Mon, 19 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796488