https://www.taxtmi.com/caselaws?id=471356 Explanation 1(c) to Section 263 permits revision of income heads not considered and decided in a pending appeal. Accordingly, revision could cover omitted income from house property and income from other sources, although an excess-stock addition was under appeal. The assessment order was erroneous and prejudicial to Revenue only to the extent it excluded those returned non-business income heads from total income. Revision could not direct addition of the entire returned income, because the assessment record showed inquiry into excess stock and computation of business income from the books. The revisionary correction was therefore confined to the omitted non-business income. en-us Fri, 04 Apr 2025 00:00:00 +0530 Mon, 31 Aug 2026 18:58:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471356 Explanation 1(c) to Section 263 permits revision of income heads not considered and decided in a pending appeal. Accordingly, revision could cover omitted income from house property and income from other sources, although an excess-stock addition was under appeal. The assessment order was erroneous and prejudicial to Revenue only to the extent it excluded those returned non-business income heads from total income. Revision could not direct addition of the entire returned income, because the assessment record showed inquiry into excess stock and computation of business income from the books. The revisionary correction was therefore confined to the omitted non-business income. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471356