https://www.taxtmi.com/caselaws?id=422913 Revision under section 263 was held unsustainable where the assessee had substantiated that the land was agricultural by revenue records, khasra girdawari, jamabandi, a tehsildar's certificate and other evidence of cultivation and rural location. The Assessing Officer had examined the exempt-income claim in scrutiny as well as rectification proceedings and accepted it after verification, so the view taken was a permissible one. The revisionary authority's reliance on the sale deed, the buyer's nature and a prior year's treatment did not displace the evidence already on record. The assessment was neither erroneous nor prejudicial to the interests of the Revenue, and revision failed. en-us Tue, 17 May 2022 00:00:00 +0530 Wed, 25 May 2022 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422913 Revision under section 263 was held unsustainable where the assessee had substantiated that the land was agricultural by revenue records, khasra girdawari, jamabandi, a tehsildar's certificate and other evidence of cultivation and rural location. The Assessing Officer had examined the exempt-income claim in scrutiny as well as rectification proceedings and accepted it after verification, so the view taken was a permissible one. The revisionary authority's reliance on the sale deed, the buyer's nature and a prior year's treatment did not displace the evidence already on record. The assessment was neither erroneous nor prejudicial to the interests of the Revenue, and revision failed. Case-Laws Income Tax Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422913