https://www.taxtmi.com/caselaws?id=471009 Revision under section 263 is barred for a purchase-disallowance issue already carried in appeal, because the appellate authority has co-terminus powers, including enhancement, and its non-exercise does not create revisional jurisdiction. Estimated disallowance of unverified purchases following supplier inquiries, evidence examination and adverse findings does not render an assessment both erroneous and prejudicial to Revenue merely because the Principal Commissioner prefers full addition as unexplained expenditure. A legally plausible assessment view reached after inquiry cannot be revised for alleged inadequate inquiry or to direct a different assessment or penalty approach. en-us Mon, 11 Aug 2025 00:00:00 +0530 Mon, 17 Aug 2026 22:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471009 Revision under section 263 is barred for a purchase-disallowance issue already carried in appeal, because the appellate authority has co-terminus powers, including enhancement, and its non-exercise does not create revisional jurisdiction. Estimated disallowance of unverified purchases following supplier inquiries, evidence examination and adverse findings does not render an assessment both erroneous and prejudicial to Revenue merely because the Principal Commissioner prefers full addition as unexplained expenditure. A legally plausible assessment view reached after inquiry cannot be revised for alleged inadequate inquiry or to direct a different assessment or penalty approach. Case-Laws Income Tax Mon, 11 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471009