https://www.taxtmi.com/caselaws?id=467800 Revision under section 263 was not justified where the assessment record showed that the Assessing Officer had issued specific enquiries on the assessee's claim for carry forward of long-term capital loss from the Dahej land transaction and the deduction under section 80IA, and the assessee had furnished replies, supporting documents, audit reports and working details. The absence of an elaborate discussion in the assessment order did not by itself establish lack of enquiry. A revisionary order can stand only if the assessment is both erroneous and prejudicial to the interests of the revenue, and Explanation 2 does not apply where the Assessing Officer has examined the issues and adopted one of the plausible views on the material available. The revisionary order was unsustainable. en-us Mon, 04 Jul 2022 00:00:00 +0530 Fri, 03 Apr 2026 18:29:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467800 Revision under section 263 was not justified where the assessment record showed that the Assessing Officer had issued specific enquiries on the assessee's claim for carry forward of long-term capital loss from the Dahej land transaction and the deduction under section 80IA, and the assessee had furnished replies, supporting documents, audit reports and working details. The absence of an elaborate discussion in the assessment order did not by itself establish lack of enquiry. A revisionary order can stand only if the assessment is both erroneous and prejudicial to the interests of the revenue, and Explanation 2 does not apply where the Assessing Officer has examined the issues and adopted one of the plausible views on the material available. The revisionary order was unsustainable. Case-Laws Income Tax Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467800