https://www.taxtmi.com/caselaws?id=260168 Revisional jurisdiction under section 263 was found unsustainable where the Assessing Officer had examined the applicability of section 115JB during assessment and completed the assessment under the normal provisions because the tax under those provisions exceeded the book-profit tax. On those facts, the omission to compute or enforce section 115JB did not prejudice the revenue. The revisional authority had to assess error and prejudice on the material available on the assessment date and could not rely on a later appellate order to justify revision. The revisional order was therefore set aside in favour of the assessee. en-us Wed, 25 Mar 2015 00:00:00 +0530 Thu, 04 Jun 2015 08:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260168 Revisional jurisdiction under section 263 was found unsustainable where the Assessing Officer had examined the applicability of section 115JB during assessment and completed the assessment under the normal provisions because the tax under those provisions exceeded the book-profit tax. On those facts, the omission to compute or enforce section 115JB did not prejudice the revenue. The revisional authority had to assess error and prejudice on the material available on the assessment date and could not rely on a later appellate order to justify revision. The revisional order was therefore set aside in favour of the assessee. Case-Laws Income Tax Wed, 25 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260168