https://www.taxtmi.com/caselaws?id=414849 Revisionary jurisdiction under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. Where the Assessing Officer issued questionnaires, examined the materials, considered the assessee's replies and adopted one permissible view, the Principal Commissioner cannot revise the assessment merely because a deeper or more elaborate enquiry was preferred. The record did not show absence of enquiry, identify any legally necessary further enquiry, or demonstrate that the assessment view was unsustainable in law. On that basis, the revision was held unsustainable and was quashed. en-us Mon, 18 Oct 2021 00:00:00 +0530 Thu, 18 Nov 2021 07:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414849 Revisionary jurisdiction under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. Where the Assessing Officer issued questionnaires, examined the materials, considered the assessee's replies and adopted one permissible view, the Principal Commissioner cannot revise the assessment merely because a deeper or more elaborate enquiry was preferred. The record did not show absence of enquiry, identify any legally necessary further enquiry, or demonstrate that the assessment view was unsustainable in law. On that basis, the revision was held unsustainable and was quashed. Case-Laws Income Tax Mon, 18 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414849