https://www.taxtmi.com/caselaws?id=188605 Revision under section 263 could not be invoked to withdraw deduction under section 80P(2)(a)(i) where the Assessing Officer had already applied his mind to the assessee's eligibility and adopted a legally permissible view. The order recorded that the assessee was treated, for income-tax purposes, as a regional rural bank eligible for the deduction under the Regional Rural Banks Act, 1976. A brief assessment order was not enough to show error or prejudice, and the Commissioner could not substitute a different view merely because section 80P(4) was considered applicable. The revision order was therefore quashed. en-us Fri, 13 Aug 2010 00:00:00 +0530 Mon, 11 Sep 2023 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188605 Revision under section 263 could not be invoked to withdraw deduction under section 80P(2)(a)(i) where the Assessing Officer had already applied his mind to the assessee's eligibility and adopted a legally permissible view. The order recorded that the assessee was treated, for income-tax purposes, as a regional rural bank eligible for the deduction under the Regional Rural Banks Act, 1976. A brief assessment order was not enough to show error or prejudice, and the Commissioner could not substitute a different view merely because section 80P(4) was considered applicable. The revision order was therefore quashed. Case-Laws Income Tax Fri, 13 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188605