https://www.taxtmi.com/caselaws?id=472236 Revisionary jurisdiction under Section 263 requires a demonstrated error in the assessment order that is prejudicial to Revenue interests. Where the taxpayer has furnished complete particulars of legal and professional expenses, including their nature and purpose, and the assessment follows adequate enquiry, a revisional authority must identify a specific defect and explain the resulting prejudice. The power cannot be invoked merely to seek further verification or to conduct a fishing and roving enquiry. On these stated facts, revision of the assessment concerning the expense allowability was unjustified. en-us Thu, 17 Apr 2025 00:00:00 +0530 Mon, 05 Oct 2026 19:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472236 Revisionary jurisdiction under Section 263 requires a demonstrated error in the assessment order that is prejudicial to Revenue interests. Where the taxpayer has furnished complete particulars of legal and professional expenses, including their nature and purpose, and the assessment follows adequate enquiry, a revisional authority must identify a specific defect and explain the resulting prejudice. The power cannot be invoked merely to seek further verification or to conduct a fishing and roving enquiry. On these stated facts, revision of the assessment concerning the expense allowability was unjustified. Case-Laws Income Tax Thu, 17 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472236