https://www.taxtmi.com/caselaws?id=472482 Revisionary jurisdiction under section 263 requires an assessment order to be both erroneous and prejudicial to Revenue interests. A reassessment accepting nil returned income without examining substantial receipts shown as advances, despite tax deduction at source, may meet that standard. Necessary inquiry includes the character of receipts, their exclusion from the Income and Expenditure Account, their treatment as income or application of income, and the applicability of sections 11 and 13. Failure to conduct those inquiries, particularly where notice issuance was impeded by technical issues, supports revision of the reassessment order. en-us Mon, 21 Apr 2025 00:00:00 +0530 Wed, 14 Oct 2026 06:16:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472482 Revisionary jurisdiction under section 263 requires an assessment order to be both erroneous and prejudicial to Revenue interests. A reassessment accepting nil returned income without examining substantial receipts shown as advances, despite tax deduction at source, may meet that standard. Necessary inquiry includes the character of receipts, their exclusion from the Income and Expenditure Account, their treatment as income or application of income, and the applicability of sections 11 and 13. Failure to conduct those inquiries, particularly where notice issuance was impeded by technical issues, supports revision of the reassessment order. Case-Laws Income Tax Mon, 21 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472482