https://www.taxtmi.com/caselaws?id=306807 Revision under section 263 was held unsustainable because the assessment record showed detailed enquiry by the Assessing Officer into the source and use of borrowed funds, the land transaction, business objects, refund arrangements and the interest claim under section 36(1)(iii). The issue of interest expenditure and capitalisation had been examined during assessment, part of the claim was considered under section 14A, and notices under section 133(6) were issued and complied with. On these facts, the assessment order could not be treated as a case of no enquiry or merely inadequate enquiry, so the revisional order was quashed. en-us Wed, 17 May 2017 00:00:00 +0530 Sun, 26 Feb 2023 09:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306807 Revision under section 263 was held unsustainable because the assessment record showed detailed enquiry by the Assessing Officer into the source and use of borrowed funds, the land transaction, business objects, refund arrangements and the interest claim under section 36(1)(iii). The issue of interest expenditure and capitalisation had been examined during assessment, part of the claim was considered under section 14A, and notices under section 133(6) were issued and complied with. On these facts, the assessment order could not be treated as a case of no enquiry or merely inadequate enquiry, so the revisional order was quashed. Case-Laws Income Tax Wed, 17 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306807