https://www.taxtmi.com/caselaws?id=773961 Revisionary jurisdiction under section 263 was upheld where the assessment under section 143(3) was found to have been completed without adequate enquiry into the assessee's claim of interest expenditure and the utilisation of borrowed funds. The Principal Commissioner's intervention was confined to verification of the claim and examination of the applicability of section 14A, with those matters left open for consequential proceedings. The challenge to the exercise of revisionary power therefore failed, and the revision order was sustained. en-us Fri, 30 May 2025 00:00:00 +0530 Tue, 01 Jul 2025 08:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773961 Revisionary jurisdiction under section 263 was upheld where the assessment under section 143(3) was found to have been completed without adequate enquiry into the assessee's claim of interest expenditure and the utilisation of borrowed funds. The Principal Commissioner's intervention was confined to verification of the claim and examination of the applicability of section 14A, with those matters left open for consequential proceedings. The challenge to the exercise of revisionary power therefore failed, and the revision order was sustained. Case-Laws Income Tax Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773961