https://www.taxtmi.com/caselaws?id=473182 Section 263 permits revision of an assessment that is erroneous and prejudicial to revenue, including where an issue requiring verification was assessed without inquiry or application of mind. A non-speaking assessment and the absence of a specific inquiry into expenditure attributable to exempt income can warrant fresh examination under section 14A. Satisfaction about the correctness of the expenditure claim requires examination of the accounts before Rule 8D is applied. A proposed rectification that does not proceed after objections does not, by itself, establish that the revisional authority acted on borrowed satisfaction. Re-examination may be directed without finally determining a disallowance. en-us Tue, 29 Apr 2025 00:00:00 +0530 Fri, 06 Nov 2026 13:51:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=473182 Section 263 permits revision of an assessment that is erroneous and prejudicial to revenue, including where an issue requiring verification was assessed without inquiry or application of mind. A non-speaking assessment and the absence of a specific inquiry into expenditure attributable to exempt income can warrant fresh examination under section 14A. Satisfaction about the correctness of the expenditure claim requires examination of the accounts before Rule 8D is applied. A proposed rectification that does not proceed after objections does not, by itself, establish that the revisional authority acted on borrowed satisfaction. Re-examination may be directed without finally determining a disallowance. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=473182