https://www.taxtmi.com/caselaws?id=256578 Section 263 revision requires the Commissioner to independently record a reasoned finding that the assessment order is both erroneous and prejudicial to the interests of Revenue before exercising revisional power. A mere mismatch between audit forms, or a possible clerical or typographical discrepancy, does not by itself justify setting aside an assessment for fresh inquiry. The governing principle is that revision cannot be used to direct the Assessing Officer to decide whether the order is erroneous; a clear jurisdictional foundation must first be established. On these facts, the revision was held unsustainable and quashed in favour of the assessee. en-us Fri, 22 Aug 2014 00:00:00 +0530 Mon, 02 Feb 2015 13:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256578 Section 263 revision requires the Commissioner to independently record a reasoned finding that the assessment order is both erroneous and prejudicial to the interests of Revenue before exercising revisional power. A mere mismatch between audit forms, or a possible clerical or typographical discrepancy, does not by itself justify setting aside an assessment for fresh inquiry. The governing principle is that revision cannot be used to direct the Assessing Officer to decide whether the order is erroneous; a clear jurisdictional foundation must first be established. On these facts, the revision was held unsustainable and quashed in favour of the assessee. Case-Laws Income Tax Fri, 22 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256578