https://www.taxtmi.com/caselaws?id=374429 The court emphasized that for the Commissioner to exercise revisional power under Section 263 of the Income Tax Act, the order must be both erroneous and prejudicial to revenue interests. It clarified that revisional power cannot be used for every mistake but only for orders meeting these criteria. In a case involving the admissibility of a deduction under Section 80IC, the court found the claim for 100% deduction inadmissible after expansion, as the Assessing Officer had not addressed this issue. The court held that where two views are possible, invoking Section 263 is justified based on the specific facts. The judgment dismissed the appeals based on legal precedents and specific case circumstances. en-us Thu, 06 Sep 2018 00:00:00 +0530 Tue, 23 Jul 2019 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374429 The court emphasized that for the Commissioner to exercise revisional power under Section 263 of the Income Tax Act, the order must be both erroneous and prejudicial to revenue interests. It clarified that revisional power cannot be used for every mistake but only for orders meeting these criteria. In a case involving the admissibility of a deduction under Section 80IC, the court found the claim for 100% deduction inadmissible after expansion, as the Assessing Officer had not addressed this issue. The court held that where two views are possible, invoking Section 263 is justified based on the specific facts. The judgment dismissed the appeals based on legal precedents and specific case circumstances. Case-Laws Income Tax Thu, 06 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374429