Revision u/s 263 permitted for rectification of mistake apparent from records

Brief of the Case ITAT Kolkata held In the case of Infinity Infotech Parks Limited vs. DCIT that in view of settled law, we are of the firm view that it is a case where due inquiry was conducted by the Assessing Officer as is apparent from assessment order on this issue on which CIT invoked jurisdiction under section 263. It is not the case that the views taken by Assessing Officer are unsustainable in law. However revision u/s 263 is duly authorized where there is a mistake apparent from the records which itself proves that the order passed on this issue by the Assessing Officer was erroneous...