https://www.taxtmi.com/caselaws?id=465629 Revision under s. 263 was invoked on the premise that the assessment was erroneous and prejudicial to the revenue due to alleged non-enquiry into ESOP-related expenditure and CSR claims. On ESOPs, the Tribunal held that the AO had examined the group ESOP mechanism and the accounting/tax treatment, including that the book charge was disallowed in the computation of income; hence there was no incorrect assumption of fact or misapplication of law warranting revision, consistent with principles in Malabar Industrial Co. Ltd. On CSR, it found the AO had verified that CSR expenditure was already disallowed in the computation and that any s. 80G claim was separately supported. Consequently, the s. 263 order was set aside and the assessment restored. en-us Mon, 29 Jul 2024 00:00:00 +0530 Fri, 02 Jan 2026 11:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465629 Revision under s. 263 was invoked on the premise that the assessment was erroneous and prejudicial to the revenue due to alleged non-enquiry into ESOP-related expenditure and CSR claims. On ESOPs, the Tribunal held that the AO had examined the group ESOP mechanism and the accounting/tax treatment, including that the book charge was disallowed in the computation of income; hence there was no incorrect assumption of fact or misapplication of law warranting revision, consistent with principles in Malabar Industrial Co. Ltd. On CSR, it found the AO had verified that CSR expenditure was already disallowed in the computation and that any s. 80G claim was separately supported. Consequently, the s. 263 order was set aside and the assessment restored. Case-Laws Income Tax Mon, 29 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465629