https://www.taxtmi.com/caselaws?id=472532 Revisionary jurisdiction under Section 263 requires an assessment order to be both erroneous and prejudicial to Revenue interests. Where scrutiny addresses cash deposits, the taxpayer supplies cash-flow details, and the Assessing Officer treats deposits as business turnover while estimating income, a legally permissible and factually plausible view is not rendered erroneous merely because the revisional authority prefers another view or seeks further verification. The principle confines revision to demonstrable assessment error causing prejudice, rather than substitution of the revisional authority's judgment. en-us Tue, 22 Apr 2025 00:00:00 +0530 Wed, 14 Oct 2026 18:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472532 Revisionary jurisdiction under Section 263 requires an assessment order to be both erroneous and prejudicial to Revenue interests. Where scrutiny addresses cash deposits, the taxpayer supplies cash-flow details, and the Assessing Officer treats deposits as business turnover while estimating income, a legally permissible and factually plausible view is not rendered erroneous merely because the revisional authority prefers another view or seeks further verification. The principle confines revision to demonstrable assessment error causing prejudice, rather than substitution of the revisional authority's judgment. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472532