https://www.taxtmi.com/caselaws?id=786718 Revisional jurisdiction was examined where the Principal Commissioner invoked power to set aside a scrutiny assessment for alleged error prejudicial to revenue because the Assessing Officer did not record any finding or conduct enquiry on the proviso to the capital gains reinvestment exemption. The Tribunal held that an assessment order rendered without application of mind on a material statutory condition can be erroneous and prejudicial, justifying revision; differing interpretations of the proviso were noted but left undecided, and the matter was remitted for fresh adjudication by the Assessing Officer. en-us Fri, 06 Feb 2026 00:00:00 +0530 Wed, 18 Feb 2026 08:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786718 Revisional jurisdiction was examined where the Principal Commissioner invoked power to set aside a scrutiny assessment for alleged error prejudicial to revenue because the Assessing Officer did not record any finding or conduct enquiry on the proviso to the capital gains reinvestment exemption. The Tribunal held that an assessment order rendered without application of mind on a material statutory condition can be erroneous and prejudicial, justifying revision; differing interpretations of the proviso were noted but left undecided, and the matter was remitted for fresh adjudication by the Assessing Officer. Case-Laws Income Tax Fri, 06 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786718