Assessee is  carrying on life insurance business in India. The  Assessing Officer taxed surplus available in shareholders account along with insurance business while computing taxable income. Commissioner invoked revision jurisdiction on the ground that the  order passed by Assessing Officer was prejudicial to interest of revenue as income/funds in shareholders account was taxable separately at rate of 30 per cent instead of 12 per cent as applicable on insurance business income.  On appeal the Tribunal held that since the  Assessing Officer had made adequate enquiries on treatment of income in shareholders account as part of life insurance business and its taxation under section 115B during course of assessment proceedings, Revision order is quashed. (AY. 2017-18)