https://www.taxtmi.com/caselaws?id=465999 Revision under Section 263 directed AO to compute tax on additions under Section 115BBE, but the revising officer did not demonstrate that the assessment order was erroneous or prejudicial to revenue; therefore the alleged misapplication of the special tax rate is a calculational mistake remediable by rectification proceedings and not a valid ground for revision. Consequently the use of revisionary jurisdiction was unjustified and the appellate remedy favored the taxpayer. en-us Thu, 08 Aug 2024 00:00:00 +0530 Tue, 20 Jan 2026 06:30:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465999 Revision under Section 263 directed AO to compute tax on additions under Section 115BBE, but the revising officer did not demonstrate that the assessment order was erroneous or prejudicial to revenue; therefore the alleged misapplication of the special tax rate is a calculational mistake remediable by rectification proceedings and not a valid ground for revision. Consequently the use of revisionary jurisdiction was unjustified and the appellate remedy favored the taxpayer. Case-Laws Income Tax Thu, 08 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465999