Judicial discipline requires consistent reassessment treatment where identical facts were decided for the same taxpayer in the preceding assessment ye...
Agreement-date stamp valuation requires the same registered property, fixed consideration, and qualifying payment; an unrelated prior booking cannot a...
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Revision under section 263 is unavailable where the Assessing Officer has examined a claimed exemption, considered supporting explanations and adopted a plausible view; a different view of the revisional authority does not establish an order that is both erroneous and prejudicial to the Revenue. Interest awarded under section 28 of the Land Acquisition Act for delayed payment of enhanced compensation on compulsorily acquired agricultural land was treated by the majority as an accretion to compensation rather than income from other sources. Accordingly, the revisionary order was quashed and the receipt was not assessed under that head.
Revision under section 263 is unavailable where the Assessing Officer has examined a claimed exemption, considered supporting explanations and adopted a plausible view; a different view of the revisional authority does not establish an order that is both erroneous and prejudicial to the Revenue. Interest awarded under section 28 of the Land Acquisition Act for delayed payment of enhanced compensation on compulsorily acquired agricultural land was treated by the majority as an accretion to compensation rather than income from other sources. Accordingly, the revisionary order was quashed and the receipt was not assessed under that head.
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