https://www.taxtmi.com/caselaws?id=411509 Revision under section 263 was held unsustainable because the Assessing Officer had examined the assessee's deduction claim under section 80P(2)(d), called for details, considered the interest income from co-operative bank deposits, and then accepted the return. The Tribunal found that this showed application of mind and a permissible view taken after inquiry. A mere difference of opinion by the Principal Commissioner did not establish that the assessment order was both erroneous and prejudicial to the interests of the Revenue. On that basis, the revisionary order was quashed. en-us Mon, 23 Aug 2021 00:00:00 +0530 Thu, 26 Aug 2021 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411509 Revision under section 263 was held unsustainable because the Assessing Officer had examined the assessee's deduction claim under section 80P(2)(d), called for details, considered the interest income from co-operative bank deposits, and then accepted the return. The Tribunal found that this showed application of mind and a permissible view taken after inquiry. A mere difference of opinion by the Principal Commissioner did not establish that the assessment order was both erroneous and prejudicial to the interests of the Revenue. On that basis, the revisionary order was quashed. Case-Laws Income Tax Mon, 23 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411509