https://www.taxtmi.com/caselaws?id=465082 HC quashed the Commissioner's order passed u/s 263 setting aside the assessment made u/s 143(3) r/w s.153C, holding that the allowance of depreciation and treatment of the property as used for business were based on due inquiry and material on record. The Court held that, at most, the case could be characterised as one of "inadequate inquiry," not "lack of inquiry." Since s.263 can be invoked only where the assessment order is both erroneous and prejudicial to the interests of the Revenue, mere disagreement with the Assessing Officer's view did not justify revision. Revision u/s 263 was therefore invalid. en-us Mon, 11 Aug 2025 00:00:00 +0530 Thu, 04 Dec 2025 13:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465082 HC quashed the Commissioner's order passed u/s 263 setting aside the assessment made u/s 143(3) r/w s.153C, holding that the allowance of depreciation and treatment of the property as used for business were based on due inquiry and material on record. The Court held that, at most, the case could be characterised as one of "inadequate inquiry," not "lack of inquiry." Since s.263 can be invoked only where the assessment order is both erroneous and prejudicial to the interests of the Revenue, mere disagreement with the Assessing Officer's view did not justify revision. Revision u/s 263 was therefore invalid. Case-Laws Income Tax Mon, 11 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465082