https://www.taxtmi.com/caselaws?id=463486 Revision under section 263 of the Income-tax Act is unavailable where the Assessing Officer made due enquiry into a section 54B deduction claim, obtained replies and supporting documents, and adopted a plausible view in assessment under section 143(3). Section 263 requires the order to be both erroneous and prejudicial to the Revenue, and the Commissioner cannot revise merely because another view is possible or because the assessment order does not record every step of reasoning. On these facts, the conditions for revision were not met and the revision order could not be sustained. en-us Mon, 22 Jan 2024 00:00:00 +0530 Tue, 10 Feb 2026 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463486 Revision under section 263 of the Income-tax Act is unavailable where the Assessing Officer made due enquiry into a section 54B deduction claim, obtained replies and supporting documents, and adopted a plausible view in assessment under section 143(3). Section 263 requires the order to be both erroneous and prejudicial to the Revenue, and the Commissioner cannot revise merely because another view is possible or because the assessment order does not record every step of reasoning. On these facts, the conditions for revision were not met and the revision order could not be sustained. Case-Laws Income Tax Mon, 22 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463486