https://www.taxtmi.com/caselaws?id=210084 Revisional jurisdiction under section 263 is available only where the assessment order is both erroneous and prejudicial to the interests of the Revenue. An order cannot be revised merely because the Commissioner prefers another view when the Assessing Officer has examined the material, applied his mind and adopted one of the permissible views. Where the disputed deductions and expenses were already covered by earlier appellate and High Court decisions in the assessee's own case, the assessment could not be treated as erroneous. On the facts found, revision over items such as bad debts, Government securities, amortisation, software expenses and interest on NPAs was not sustainable. en-us Fri, 06 May 2011 00:00:00 +0530 Fri, 10 Feb 2012 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210084 Revisional jurisdiction under section 263 is available only where the assessment order is both erroneous and prejudicial to the interests of the Revenue. An order cannot be revised merely because the Commissioner prefers another view when the Assessing Officer has examined the material, applied his mind and adopted one of the permissible views. Where the disputed deductions and expenses were already covered by earlier appellate and High Court decisions in the assessee's own case, the assessment could not be treated as erroneous. On the facts found, revision over items such as bad debts, Government securities, amortisation, software expenses and interest on NPAs was not sustainable. Case-Laws Income Tax Fri, 06 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210084