https://www.taxtmi.com/caselaws?id=473032 Revision under section 263 requires an assessment to be both erroneous and prejudicial to the interests of the revenue. Where the assessing officer has made specific and follow-up inquiries into unsecured loans and considered lender creditworthiness, bank records and repayment, disagreement over the extent of inquiry or a permissible assessment view does not by itself justify revision. Without valid revisional jurisdiction, the assessment remains undisturbed. en-us Thu, 24 Apr 2025 00:00:00 +0530 Mon, 02 Nov 2026 18:59:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=473032 Revision under section 263 requires an assessment to be both erroneous and prejudicial to the interests of the revenue. Where the assessing officer has made specific and follow-up inquiries into unsecured loans and considered lender creditworthiness, bank records and repayment, disagreement over the extent of inquiry or a permissible assessment view does not by itself justify revision. Without valid revisional jurisdiction, the assessment remains undisturbed. Case-Laws Income Tax Thu, 24 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=473032