https://www.taxtmi.com/caselaws?id=456654 Section 263 revision was held impermissible where the assessment record showed enquiry into the Chapter VI-A deduction claim and the Assessing Officer had applied mind to the supporting material; a different view or a lack of elaborate discussion was insufficient without both error and prejudice to the Revenue. Interest and dividend received from a co-operative bank were treated as deductible because the receipts were attributable to the assessee's credit business, and alternatively because investment with a co-operative society fell within section 80P(2)(d). The exclusion in section 80P(4) was found not to defeat the claim on these facts. en-us Wed, 16 Aug 2023 00:00:00 +0530 Wed, 07 Aug 2024 20:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456654 Section 263 revision was held impermissible where the assessment record showed enquiry into the Chapter VI-A deduction claim and the Assessing Officer had applied mind to the supporting material; a different view or a lack of elaborate discussion was insufficient without both error and prejudice to the Revenue. Interest and dividend received from a co-operative bank were treated as deductible because the receipts were attributable to the assessee's credit business, and alternatively because investment with a co-operative society fell within section 80P(2)(d). The exclusion in section 80P(4) was found not to defeat the claim on these facts. Case-Laws Income Tax Wed, 16 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456654