https://www.taxtmi.com/caselaws?id=242064 Revision under section 263 of the Income-tax Act was held unjustified where the Assessing Officer had called for details, examined supporting material, and accepted share application money after enquiry. The revisional power applies only if the assessment order is both erroneous and prejudicial to the interests of the Revenue, and it cannot be used merely because the Commissioner prefers deeper enquiry or a different view. The revisional order was set aside and the assessment order restored. en-us Wed, 18 Dec 2013 00:00:00 +0530 Tue, 07 Jan 2014 08:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242064 Revision under section 263 of the Income-tax Act was held unjustified where the Assessing Officer had called for details, examined supporting material, and accepted share application money after enquiry. The revisional power applies only if the assessment order is both erroneous and prejudicial to the interests of the Revenue, and it cannot be used merely because the Commissioner prefers deeper enquiry or a different view. The revisional order was set aside and the assessment order restored. Case-Laws Income Tax Wed, 18 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242064