https://www.taxtmi.com/caselaws?id=425963 Revision under section 263 requires material showing that the assessment order is both erroneous and prejudicial to the interests of the Revenue; where the assessee had disclosed details of advances for properties and no further enquiry was warranted on the record, revisional interference was not justified. On the interest-rate issue under section 36(1)(iii), the Assessing Officer had adopted a rate after enquiry and the underlying disallowance had already been deleted in appeal, rendering the dispute academic. The revisional order was therefore unsustainable. en-us Tue, 02 Aug 2022 00:00:00 +0530 Wed, 03 Aug 2022 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425963 Revision under section 263 requires material showing that the assessment order is both erroneous and prejudicial to the interests of the Revenue; where the assessee had disclosed details of advances for properties and no further enquiry was warranted on the record, revisional interference was not justified. On the interest-rate issue under section 36(1)(iii), the Assessing Officer had adopted a rate after enquiry and the underlying disallowance had already been deleted in appeal, rendering the dispute academic. The revisional order was therefore unsustainable. Case-Laws Income Tax Tue, 02 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425963