https://www.taxtmi.com/caselaws?id=471202 Revisionary jurisdiction under Section 263 cannot be sustained merely because the revisional authority considers further inquiry desirable where reassessment specifically examined the relevant share transactions. Supporting material, including bank-account details, broker statements and transaction particulars, was furnished, and the transactions formed part of regular trading through an established broker. In the absence of an identified inquiry deficiency, ignored material, evidentiary defect or necessary further inquiry, the reassessment view remains a plausible view. The requirements of an erroneous order prejudicial to Revenue interests are therefore not met, making revision unsustainable. en-us Fri, 26 Apr 2024 00:00:00 +0530 Tue, 25 Aug 2026 14:20:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471202 Revisionary jurisdiction under Section 263 cannot be sustained merely because the revisional authority considers further inquiry desirable where reassessment specifically examined the relevant share transactions. Supporting material, including bank-account details, broker statements and transaction particulars, was furnished, and the transactions formed part of regular trading through an established broker. In the absence of an identified inquiry deficiency, ignored material, evidentiary defect or necessary further inquiry, the reassessment view remains a plausible view. The requirements of an erroneous order prejudicial to Revenue interests are therefore not met, making revision unsustainable. Case-Laws Income Tax Fri, 26 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471202