https://www.taxtmi.com/caselaws?id=55014 Revision under section 263 is permissible only where the assessment order is both erroneous and prejudicial to the Revenue. An order passed in block assessment proceedings in accordance with binding directions under section 144A is ordinarily not erroneous merely because the Revenue relies on different figures or other material from the District Industries Centre. Household investments supported by cash-flow statements and reflected in earlier years could not be treated as undisclosed income in block assessment, and failure to make a legally impermissible addition did not justify revision. The Commissioner therefore lacked jurisdiction to revise the assessments, and the section 263 orders were liable to be cancelled. en-us Fri, 28 Sep 2001 00:00:00 +0530 Mon, 22 Nov 2010 14:03:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55014 Revision under section 263 is permissible only where the assessment order is both erroneous and prejudicial to the Revenue. An order passed in block assessment proceedings in accordance with binding directions under section 144A is ordinarily not erroneous merely because the Revenue relies on different figures or other material from the District Industries Centre. Household investments supported by cash-flow statements and reflected in earlier years could not be treated as undisclosed income in block assessment, and failure to make a legally impermissible addition did not justify revision. The Commissioner therefore lacked jurisdiction to revise the assessments, and the section 263 orders were liable to be cancelled. Case-Laws Income Tax Fri, 28 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55014