https://www.taxtmi.com/caselaws?id=775499 The ITAT Chennai held that revision under Section 263 was not valid due to lack of proper inquiry by the Pr. CIT. The AO had conducted an enquiry focused on rental income, and any omission regarding the claim of interest under Section 24(a) amounted only to inadequate enquiry, not a complete lack. The Pr. CIT must conduct independent inquiry before revising an assessment, which was not done here. The orders passed by the Pr. CIT were deemed hasty and mechanical without proper application of mind. Consequently, the ITAT set aside the Pr. CIT's revision orders and allowed the assessee's appeal, ruling that Section 263 could not be invoked in the absence of material showing the assessment was erroneous and prejudicial. en-us Tue, 03 Jun 2025 00:00:00 +0530 Sat, 26 Jul 2025 08:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775499 The ITAT Chennai held that revision under Section 263 was not valid due to lack of proper inquiry by the Pr. CIT. The AO had conducted an enquiry focused on rental income, and any omission regarding the claim of interest under Section 24(a) amounted only to inadequate enquiry, not a complete lack. The Pr. CIT must conduct independent inquiry before revising an assessment, which was not done here. The orders passed by the Pr. CIT were deemed hasty and mechanical without proper application of mind. Consequently, the ITAT set aside the Pr. CIT's revision orders and allowed the assessee's appeal, ruling that Section 263 could not be invoked in the absence of material showing the assessment was erroneous and prejudicial. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775499