https://www.taxtmi.com/caselaws?id=259021 Revision under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. Where the Assessing Officer examined the claim, called for details, and adopted one of the possible legal views on allowability of expenditure, the order cannot be treated as erroneous merely because the Commissioner prefers a different view. The revisional power cannot be used to substitute the Commissioner's opinion for a sustainable assessment view when enquiry was conducted and no unsustainable application of law or absence of inquiry is shown. en-us Wed, 11 Feb 2015 00:00:00 +0530 Tue, 24 Feb 2015 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259021 Revision under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. Where the Assessing Officer examined the claim, called for details, and adopted one of the possible legal views on allowability of expenditure, the order cannot be treated as erroneous merely because the Commissioner prefers a different view. The revisional power cannot be used to substitute the Commissioner's opinion for a sustainable assessment view when enquiry was conducted and no unsustainable application of law or absence of inquiry is shown. Case-Laws Income Tax Wed, 11 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259021