https://www.taxtmi.com/caselaws?id=787794 Invocation of revisional power under Section 263 was assessed against the standard that the revisional authority must point to lack of enquiry or produce independent material showing a prima facie error rendering the assessment erroneous and prejudicial to revenue. ITAT found the Assessing Officer had made detailed enquiries, considered the assessee's suo moto computation for disallowance relating to investments yielding exempt income, and accepted the computation for relevant items; the Principal Commissioner did not demonstrate absence of enquiry or a prima facie error. Consequently the enhancement under the disallowance claim was quashed. en-us Fri, 06 Mar 2026 00:00:00 +0530 Tue, 10 Mar 2026 16:21:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787794 Invocation of revisional power under Section 263 was assessed against the standard that the revisional authority must point to lack of enquiry or produce independent material showing a prima facie error rendering the assessment erroneous and prejudicial to revenue. ITAT found the Assessing Officer had made detailed enquiries, considered the assessee's suo moto computation for disallowance relating to investments yielding exempt income, and accepted the computation for relevant items; the Principal Commissioner did not demonstrate absence of enquiry or a prima facie error. Consequently the enhancement under the disallowance claim was quashed. Case-Laws Income Tax Fri, 06 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787794