https://www.taxtmi.com/caselaws?id=193087 Revision under section 263 is not justified where the Assessing Officer has raised specific queries, examined the deduction under section 80IC, disallowance under section 14A and depreciation on electric installations, and then adopted a permissible view on the material before him. A Commissioner cannot revise an assessment merely because a different view is possible, the enquiry could have been more elaborate, or audit objections suggest another appreciation of the same facts. The twin requirements of error and prejudice to the Revenue must both be established; on these facts, they were not, so the revisional orders were unsustainable and the original assessments stood restored. en-us Wed, 18 Nov 2015 00:00:00 +0530 Thu, 13 Jul 2017 07:31:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193087 Revision under section 263 is not justified where the Assessing Officer has raised specific queries, examined the deduction under section 80IC, disallowance under section 14A and depreciation on electric installations, and then adopted a permissible view on the material before him. A Commissioner cannot revise an assessment merely because a different view is possible, the enquiry could have been more elaborate, or audit objections suggest another appreciation of the same facts. The twin requirements of error and prejudice to the Revenue must both be established; on these facts, they were not, so the revisional orders were unsustainable and the original assessments stood restored. Case-Laws Income Tax Wed, 18 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193087