Section 263 Revisional order not valid if passed without pointing out any inaccuracy in claim of assessee

Bank of Baroda (w.r.t E-Dena Bank) Vs PCIT (ITAT Mumbai) Pr.CIT held that the order passed by the A.O u/s 143(3) of the Act as erroneous as well as prejudicial to the interest of the revenue on the grounds that A.O has not verified the claim of deduction of the assessee pertaining to amortization of premium on Held to Maturity investment and also not verified the claim of deduction of Rs.833.39 crores as bad debt written off from the book profit. In this regard on the issue of claim of deduction on amortization of premium Held to Maturity investment on perusal of material on record it is obser...