https://www.taxtmi.com/caselaws?id=799958 Revision under Section 263 requires an assessment order to be both erroneous and prejudicial to the interests of the Revenue. Explanation 2(a) applies where an order is passed without inquiries or verification that should have been undertaken. Where the Assessing Officer called for and examined books of account, bank statements, lender details, confirmations, balance sheets and returns concerning unsecured loans, the absence of detailed discussion in the assessment order does not by itself establish lack of inquiry or non-application of mind. Revision is not sustainable merely because further inquiry or a different view is preferred. en-us Mon, 21 Sep 2026 00:00:00 +0530 Tue, 29 Sep 2026 08:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799958 Revision under Section 263 requires an assessment order to be both erroneous and prejudicial to the interests of the Revenue. Explanation 2(a) applies where an order is passed without inquiries or verification that should have been undertaken. Where the Assessing Officer called for and examined books of account, bank statements, lender details, confirmations, balance sheets and returns concerning unsecured loans, the absence of detailed discussion in the assessment order does not by itself establish lack of inquiry or non-application of mind. Revision is not sustainable merely because further inquiry or a different view is preferred. Case-Laws Income Tax Mon, 21 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799958