https://www.taxtmi.com/caselaws?id=785209 Revision under revisionary powers was contested regarding entitlement to deduction for a co-operative society's interest and dividend from investments with co-operative banks; the assessing officer had made enquiries, verified details and accepted the claim, and that plausible, reasoned assessment cannot be treated as erroneous even if prejudicial to revenue, therefore revisionary jurisdiction was not exercisable on that basis. The issue is further supported by consistent prior favorable findings in the same forum, reinforcing that allowance of the deduction for cooperative society investment income stands. en-us Tue, 25 Nov 2025 00:00:00 +0530 Tue, 20 Jan 2026 06:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785209 Revision under revisionary powers was contested regarding entitlement to deduction for a co-operative society's interest and dividend from investments with co-operative banks; the assessing officer had made enquiries, verified details and accepted the claim, and that plausible, reasoned assessment cannot be treated as erroneous even if prejudicial to revenue, therefore revisionary jurisdiction was not exercisable on that basis. The issue is further supported by consistent prior favorable findings in the same forum, reinforcing that allowance of the deduction for cooperative society investment income stands. Case-Laws Income Tax Tue, 25 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785209