https://www.taxtmi.com/caselaws?id=798487 Revision under Section 263 requires the competent income-tax authority to exercise the power in its authorised statutory capacity. Where an officer formally holding charge as Chief Commissioner acts and signs as Principal Commissioner without express authorisation to perform that authority's functions, the revisionary notice and consequential order lack jurisdiction. Revision also cannot rest on a preference for further inquiry when the Assessing Officer examined property ownership, use and annual letting value, accepted a plausible view, and no specific error causing prejudice to revenue is established. Explanation 2 does not permit revision merely on a change of opinion. en-us Fri, 28 Aug 2026 00:00:00 +0530 Tue, 08 Sep 2026 08:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798487 Revision under Section 263 requires the competent income-tax authority to exercise the power in its authorised statutory capacity. Where an officer formally holding charge as Chief Commissioner acts and signs as Principal Commissioner without express authorisation to perform that authority's functions, the revisionary notice and consequential order lack jurisdiction. Revision also cannot rest on a preference for further inquiry when the Assessing Officer examined property ownership, use and annual letting value, accepted a plausible view, and no specific error causing prejudice to revenue is established. Explanation 2 does not permit revision merely on a change of opinion. Case-Laws Income Tax Fri, 28 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798487