https://www.taxtmi.com/caselaws?id=785947 Revision u/s 263 challenged an assessing officer's restriction of deduction under section 80P(2)(d) to profits from providing credit to members; the AO had verified balance sheet, P&L and investments and disallowed amounts relating to non-core investment income after due enquiry. The tribunal found the AO took a plausible, substantiated view and held that mere disagreement by the commissioner does not satisfy the twin conditions for invoking revision jurisdiction, therefore the exercise of power u/s 263 was unwarranted and the decision was affirmed in favour of the assessee. en-us Fri, 16 Jan 2026 00:00:00 +0530 Tue, 03 Feb 2026 08:39:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785947 Revision u/s 263 challenged an assessing officer's restriction of deduction under section 80P(2)(d) to profits from providing credit to members; the AO had verified balance sheet, P&L and investments and disallowed amounts relating to non-core investment income after due enquiry. The tribunal found the AO took a plausible, substantiated view and held that mere disagreement by the commissioner does not satisfy the twin conditions for invoking revision jurisdiction, therefore the exercise of power u/s 263 was unwarranted and the decision was affirmed in favour of the assessee. Case-Laws Income Tax Fri, 16 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785947