https://www.taxtmi.com/caselaws?id=794624 Revision under Section 263 was held unsustainable because, although depreciation on windmills had been allowed at 80% instead of 15%, the assessee had no positive taxable income in the relevant year and no prejudice to the Revenue was shown. The Tribunal found that restricting depreciation would not have changed the tax position, as business loss remained and no taxable income arose in later years before sale of the windmill; the capital gain on sale was separately offered to tax. The High Court accepted these factual findings, held the twin conditions of error and prejudice were not satisfied, and found no substantial question of law. en-us Mon, 29 Jun 2026 00:00:00 +0530 Wed, 08 Jul 2026 09:08:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794624 Revision under Section 263 was held unsustainable because, although depreciation on windmills had been allowed at 80% instead of 15%, the assessee had no positive taxable income in the relevant year and no prejudice to the Revenue was shown. The Tribunal found that restricting depreciation would not have changed the tax position, as business loss remained and no taxable income arose in later years before sale of the windmill; the capital gain on sale was separately offered to tax. The High Court accepted these factual findings, held the twin conditions of error and prejudice were not satisfied, and found no substantial question of law. Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794624