https://www.taxtmi.com/caselaws?id=350083 Revision under section 263 is permissible only where the assessment order is both erroneous and prejudicial to the interests of the Revenue. The assessee had produced books of account, balance sheets, property and sale documents, possession records, bank statements and other supporting material, and the Assessing Officer made enquiries before accepting the claims relating to capital gains, agricultural land and cash credit. The Commissioner merely substituted a different view without showing lack of enquiry or a factual error in the assessments. The revisionary orders were quashed and the revision was held unsustainable. en-us Fri, 27 Oct 2017 00:00:00 +0530 Tue, 31 Oct 2017 12:20:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350083 Revision under section 263 is permissible only where the assessment order is both erroneous and prejudicial to the interests of the Revenue. The assessee had produced books of account, balance sheets, property and sale documents, possession records, bank statements and other supporting material, and the Assessing Officer made enquiries before accepting the claims relating to capital gains, agricultural land and cash credit. The Commissioner merely substituted a different view without showing lack of enquiry or a factual error in the assessments. The revisionary orders were quashed and the revision was held unsustainable. Case-Laws Income Tax Fri, 27 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350083