https://www.taxtmi.com/caselaws?id=329779 Revision under section 263 was unsustainable because the assessment order was not shown to be both erroneous and prejudicial to the interests of the Revenue. The Assessing Officer had called for details, examined the assessee's explanations on the section 80IB(10) deduction, work-in-progress valuation, development rights, and related project receipts, and adopted a plausible view. A revisional authority cannot invoke section 263 merely because inquiry was not discussed in greater detail or because another view is possible. The assessment was restored, and the assessee's claim succeeded on the facts and law. en-us Wed, 01 Jun 2016 00:00:00 +0530 Sat, 09 Jul 2016 11:11:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329779 Revision under section 263 was unsustainable because the assessment order was not shown to be both erroneous and prejudicial to the interests of the Revenue. The Assessing Officer had called for details, examined the assessee's explanations on the section 80IB(10) deduction, work-in-progress valuation, development rights, and related project receipts, and adopted a plausible view. A revisional authority cannot invoke section 263 merely because inquiry was not discussed in greater detail or because another view is possible. The assessment was restored, and the assessee's claim succeeded on the facts and law. Case-Laws Income Tax Wed, 01 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329779