https://www.taxtmi.com/caselaws?id=392487 Revision under section 263 was held unsustainable because the assessment record showed enquiry by the Assessing Officer into the IBNR and IBNER provisions, supported by schedule details and auditor-certified material. The provisions were stated to be made in line with the insurance regulatory framework and actuarial principles. As the issue was debatable and the Assessing Officer had adopted one of the permissible views, the order could not be treated as erroneous merely because the revisional authority preferred another view. The statutory conditions for invoking revision were therefore not met. en-us Wed, 05 Feb 2020 00:00:00 +0530 Fri, 21 Feb 2020 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392487 Revision under section 263 was held unsustainable because the assessment record showed enquiry by the Assessing Officer into the IBNR and IBNER provisions, supported by schedule details and auditor-certified material. The provisions were stated to be made in line with the insurance regulatory framework and actuarial principles. As the issue was debatable and the Assessing Officer had adopted one of the permissible views, the order could not be treated as erroneous merely because the revisional authority preferred another view. The statutory conditions for invoking revision were therefore not met. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392487