https://www.taxtmi.com/caselaws?id=472510 Revisionary jurisdiction under Section 263 requires an assessment order to be both erroneous and prejudicial to the interests of Revenue. Multiple assessment notices, taxpayer responses, examination of books, bills, vouchers, financial statements and the tax audit report demonstrated that enquiries had been undertaken. A lack of detailed discussion in the assessment order did not establish absence of enquiry where queries had been raised and answered. Further verification of partners' capital after assessment also supported the existence of examination. As the revisional action identified no specific error causing revenue prejudice and merely sought broad further enquiries, its invocation was invalid; the original assessment was restored. en-us Tue, 22 Apr 2025 00:00:00 +0530 Wed, 14 Oct 2026 13:28:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472510 Revisionary jurisdiction under Section 263 requires an assessment order to be both erroneous and prejudicial to the interests of Revenue. Multiple assessment notices, taxpayer responses, examination of books, bills, vouchers, financial statements and the tax audit report demonstrated that enquiries had been undertaken. A lack of detailed discussion in the assessment order did not establish absence of enquiry where queries had been raised and answered. Further verification of partners' capital after assessment also supported the existence of examination. As the revisional action identified no specific error causing revenue prejudice and merely sought broad further enquiries, its invocation was invalid; the original assessment was restored. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472510