https://www.taxtmi.com/caselaws?id=339929 Revisionary jurisdiction under section 263 could not be invoked where the Assessing Officer had examined the assessee's section 14A disallowance, issued queries, considered the accounts, and accepted the computation after enquiry. The Tribunal noted that section 14A(2) requires disallowance to be made with reference to the accounts and does not automatically require application of Rule 8D in every case. Because the Assessing Officer had taken a possible view on the material before him, the assessment order was not erroneous merely because the Principal Commissioner preferred a different Rule 8D computation. The revision order was therefore quashed. en-us Wed, 08 Mar 2017 00:00:00 +0530 Fri, 10 Mar 2017 06:20:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339929 Revisionary jurisdiction under section 263 could not be invoked where the Assessing Officer had examined the assessee's section 14A disallowance, issued queries, considered the accounts, and accepted the computation after enquiry. The Tribunal noted that section 14A(2) requires disallowance to be made with reference to the accounts and does not automatically require application of Rule 8D in every case. Because the Assessing Officer had taken a possible view on the material before him, the assessment order was not erroneous merely because the Principal Commissioner preferred a different Rule 8D computation. The revision order was therefore quashed. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339929