https://www.taxtmi.com/caselaws?id=800389 Section 263 revision requires an assessment order to be both erroneous and prejudicial to Revenue. Explanation 2(a) applies where requisite enquiries are absent but does not permit revision merely because further verification is possible. Where assessment records contain lender confirmations, banking records, creditor ledgers, work-in-progress details and supporting invoices, revision cannot rest on a roving re-enquiry without identifying a specific false, unexplained or defective item. Revenue-recognition and fixed-asset objections cannot support revision when outside the show-cause notice or when no error, taxable accrual, or Revenue prejudice is demonstrated. en-us Fri, 18 Sep 2026 00:00:00 +0530 Tue, 06 Oct 2026 08:13:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800389 Section 263 revision requires an assessment order to be both erroneous and prejudicial to Revenue. Explanation 2(a) applies where requisite enquiries are absent but does not permit revision merely because further verification is possible. Where assessment records contain lender confirmations, banking records, creditor ledgers, work-in-progress details and supporting invoices, revision cannot rest on a roving re-enquiry without identifying a specific false, unexplained or defective item. Revenue-recognition and fixed-asset objections cannot support revision when outside the show-cause notice or when no error, taxable accrual, or Revenue prejudice is demonstrated. Case-Laws Income Tax Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800389