https://www.taxtmi.com/caselaws?id=210911 Section 263 revision is confined to assessment orders that are both erroneous and prejudicial to the Revenue, and it cannot be used to replace a plausible view already taken after examining the material. On the exemption claim under section 10(29) for income from letting warehouses and cargo complexes, the Assessing Officer had considered the statutory framework, remand directions, and relevant facts, so revision was invalid. On depreciation, the terminal building was examined on the functionality test with technical material showing plant-like components and integrated airport systems, so revision was again invalid and depreciation as plant was upheld. en-us Fri, 09 Sep 2011 00:00:00 +0530 Wed, 15 Feb 2017 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210911 Section 263 revision is confined to assessment orders that are both erroneous and prejudicial to the Revenue, and it cannot be used to replace a plausible view already taken after examining the material. On the exemption claim under section 10(29) for income from letting warehouses and cargo complexes, the Assessing Officer had considered the statutory framework, remand directions, and relevant facts, so revision was invalid. On depreciation, the terminal building was examined on the functionality test with technical material showing plant-like components and integrated airport systems, so revision was again invalid and depreciation as plant was upheld. Case-Laws Income Tax Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210911