https://www.taxtmi.com/caselaws?id=787575 Delay in filing an appeal of 462 days was condoned due to lack of awareness and prompt action once orders were discovered, admitting the appeal. The note clarifies that revisionary powers cannot be exercised where the assessing officer has taken a legally sustainable view or where correction would not be prejudicial to revenue; accordingly an order under the revisionary power directing reconsideration of interest on cooperative bank investments and of tax debited to profit and loss was quashed and the original assessment restored for the relevant year. en-us Thu, 05 Mar 2026 00:00:00 +0530 Mon, 09 Mar 2026 07:53:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787575 Delay in filing an appeal of 462 days was condoned due to lack of awareness and prompt action once orders were discovered, admitting the appeal. The note clarifies that revisionary powers cannot be exercised where the assessing officer has taken a legally sustainable view or where correction would not be prejudicial to revenue; accordingly an order under the revisionary power directing reconsideration of interest on cooperative bank investments and of tax debited to profit and loss was quashed and the original assessment restored for the relevant year. Case-Laws Income Tax Thu, 05 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787575