https://www.taxtmi.com/caselaws?id=272834 Section 263 revisional jurisdiction cannot be used where the Assessing Officer has examined the land transaction, called for details, considered the agreement to sell, possession document and capital gains computation, and then adopted one of the permissible views. A mere lack of elaborate discussion in the assessment order does not by itself prove error if the record shows inquiry and application of mind. As the assessment was neither erroneous nor prejudicial to the interests of the Revenue on the facts noted, the revisional order setting aside the assessment was quashed and the assessment under section 143(3) was restored. en-us Wed, 17 May 2017 00:00:00 +0530 Sun, 20 May 2018 21:58:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272834 Section 263 revisional jurisdiction cannot be used where the Assessing Officer has examined the land transaction, called for details, considered the agreement to sell, possession document and capital gains computation, and then adopted one of the permissible views. A mere lack of elaborate discussion in the assessment order does not by itself prove error if the record shows inquiry and application of mind. As the assessment was neither erroneous nor prejudicial to the interests of the Revenue on the facts noted, the revisional order setting aside the assessment was quashed and the assessment under section 143(3) was restored. Case-Laws Income Tax Wed, 17 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272834