https://www.taxtmi.com/caselaws?id=59975 Revision under section 263 was upheld where the assessing officer allowed a substantial business-expense deduction without calling for details or verifying whether the expenditure had actually been incurred for business purposes. The lack of inquiry rendered the assessment order erroneous and prejudicial to the interests of the revenue, so the Commissioner was justified in setting aside the assessment. The assessee's challenge failed. en-us Fri, 11 Jun 1982 00:00:00 +0530 Mon, 03 Jan 2011 11:23:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59975 Revision under section 263 was upheld where the assessing officer allowed a substantial business-expense deduction without calling for details or verifying whether the expenditure had actually been incurred for business purposes. The lack of inquiry rendered the assessment order erroneous and prejudicial to the interests of the revenue, so the Commissioner was justified in setting aside the assessment. The assessee's challenge failed. Case-Laws Income Tax Fri, 11 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59975