https://www.taxtmi.com/caselaws?id=398756 HC held that revisional jurisdiction under s.263 requires demonstration of lack of application of mind or improper exercise, not merely perceived inadequacy of enquiry. Here the AO examined documents and took a plausible view that no expenditure was attributable to exempt income; the CIT could not validly reopen the assessment solely on alleged inadequate enquiry. The Tribunal's decision setting aside the CIT's order was upheld, and the appeal was decided in favour of the assessee. en-us Wed, 16 Sep 2020 00:00:00 +0530 Mon, 22 Sep 2025 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398756 HC held that revisional jurisdiction under s.263 requires demonstration of lack of application of mind or improper exercise, not merely perceived inadequacy of enquiry. Here the AO examined documents and took a plausible view that no expenditure was attributable to exempt income; the CIT could not validly reopen the assessment solely on alleged inadequate enquiry. The Tribunal's decision setting aside the CIT's order was upheld, and the appeal was decided in favour of the assessee. Case-Laws Income Tax Wed, 16 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398756