https://www.taxtmi.com/caselaws?id=178692 Delay in filing the appeal was treated as bona fide because the assessee understood the revisional order to mean that the matter would be reconsidered after consequential assessment, so the delay was condoned. On the merits, revision under section 263 was held unsustainable where the Assessing Officer had examined survey material, called for explanations, considered the assessee's reply and adopted a permissible view after enquiry. As the order was not shown to be both erroneous and prejudicial to the interests of the Revenue on the basis of corroborative material, the revisional order was annulled and the assessment left undisturbed. en-us Wed, 23 Apr 2014 00:00:00 +0530 Wed, 10 Feb 2016 18:35:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178692 Delay in filing the appeal was treated as bona fide because the assessee understood the revisional order to mean that the matter would be reconsidered after consequential assessment, so the delay was condoned. On the merits, revision under section 263 was held unsustainable where the Assessing Officer had examined survey material, called for explanations, considered the assessee's reply and adopted a permissible view after enquiry. As the order was not shown to be both erroneous and prejudicial to the interests of the Revenue on the basis of corroborative material, the revisional order was annulled and the assessment left undisturbed. Case-Laws Income Tax Wed, 23 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178692