https://www.taxtmi.com/caselaws?id=76321 HC upheld the Tribunal's finding that the Commissioner's suo motu exercise of revision under section 263 was unjustified. The Assessing Officer had made specific enquiries, accepted the assessee's explanation and allowed depreciation of Rs. 622.39 lakhs on securities held as trading stock. In the absence of contrary material, the Commissioner could not treat that finding as erroneous or prejudicial to revenue. Because the first two issues did not warrant revision, other directed enquiries were consequential, and the appeal was dismissed. en-us Fri, 26 Feb 2010 00:00:00 +0530 Mon, 01 Sep 2025 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76321 HC upheld the Tribunal's finding that the Commissioner's suo motu exercise of revision under section 263 was unjustified. The Assessing Officer had made specific enquiries, accepted the assessee's explanation and allowed depreciation of Rs. 622.39 lakhs on securities held as trading stock. In the absence of contrary material, the Commissioner could not treat that finding as erroneous or prejudicial to revenue. Because the first two issues did not warrant revision, other directed enquiries were consequential, and the appeal was dismissed. Case-Laws Income Tax Fri, 26 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76321