https://www.taxtmi.com/caselaws?id=796488 Revision under section 23 of the Black Money Act requires an assessment order to be both erroneous and prejudicial to the Revenue, including where mandatory inquiries or verification were omitted. The article notes that the assessment record contained repeated inquiries into the discretionary trust, trustee minutes, distributions, foreign assets and bank accounts, with explanations and compliance-scheme declarations already considered. Material relied on for revision had been examined during assessment, and no falsity or specific inquiry defect was identified. Reconsideration based only on a different possible view or alleged inadequacy of inquiry could not support revision. The assessment was therefore neither erroneous nor prejudicial, rendering the revision invalid. 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 Revision under section 23 of the Black Money Act requires an assessment order to be both erroneous and prejudicial to the Revenue, including where mandatory inquiries or verification were omitted. The article notes that the assessment record contained repeated inquiries into the discretionary trust, trustee minutes, distributions, foreign assets and bank accounts, with explanations and compliance-scheme declarations already considered. Material relied on for revision had been examined during assessment, and no falsity or specific inquiry defect was identified. Reconsideration based only on a different possible view or alleged inadequacy of inquiry could not support revision. The assessment was therefore neither erroneous nor prejudicial, rendering the revision invalid. Case-Laws Income Tax Mon, 19 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796488