https://www.taxtmi.com/caselaws?id=265120 An assessment order passed without meaningful enquiry into a material claim under section 80P, including the nature of interest income and rental receipts, is vulnerable to revision under section 263 as erroneous and prejudicial to the Revenue. The revisional authority may therefore intervene where the Assessing Officer has not examined the relevant facts. However, while revision was justified, a blanket direction to disallow the receipts on merits was not sustained, because the merits required fresh examination. The proper course was to set aside the assessment and restore the matter for de novo adjudication in accordance with law. en-us Fri, 04 Sep 2015 00:00:00 +0530 Sat, 19 Dec 2015 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265120 An assessment order passed without meaningful enquiry into a material claim under section 80P, including the nature of interest income and rental receipts, is vulnerable to revision under section 263 as erroneous and prejudicial to the Revenue. The revisional authority may therefore intervene where the Assessing Officer has not examined the relevant facts. However, while revision was justified, a blanket direction to disallow the receipts on merits was not sustained, because the merits required fresh examination. The proper course was to set aside the assessment and restore the matter for de novo adjudication in accordance with law. Case-Laws Income Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265120