https://www.taxtmi.com/caselaws?id=456226 Revision under section 263 of the Income-tax Act was held unsustainable where the Assessing Officer had issued questionnaires, examined books and supporting details, and accepted the deduction claim under section 80IB(10) after scrutiny. The revisional authority could not invoke section 263 merely because it considered that further enquiry should have been made or because it preferred a different view. As the assessment was based on one of the possible sustainable views and there was no prima facie material showing the order to be both erroneous and prejudicial to the interests of the Revenue, the order setting aside the assessment was quashed. en-us Mon, 28 Dec 2015 00:00:00 +0530 Mon, 08 Jul 2024 20:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456226 Revision under section 263 of the Income-tax Act was held unsustainable where the Assessing Officer had issued questionnaires, examined books and supporting details, and accepted the deduction claim under section 80IB(10) after scrutiny. The revisional authority could not invoke section 263 merely because it considered that further enquiry should have been made or because it preferred a different view. As the assessment was based on one of the possible sustainable views and there was no prima facie material showing the order to be both erroneous and prejudicial to the interests of the Revenue, the order setting aside the assessment was quashed. Case-Laws Income Tax Mon, 28 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456226