https://www.taxtmi.com/caselaws?id=425178 Section 263 revision is not justified where the Assessing Officer has made specific enquiries, considered the assessee's explanation, and adopted one plausible view. The Tribunal noted that the land was sold by the secured lender under SARFAESI proceedings, so the assessee's sale consideration arose from a bank-driven sale process and the assumption that section 50C had been ignored was not enough to show error and prejudice to the Revenue. A mere difference of opinion, or a claim of inadequate enquiry rather than no enquiry, cannot sustain revision. The revisional order was therefore held unsustainable and was set aside. en-us Wed, 06 Jul 2022 00:00:00 +0530 Mon, 18 Jul 2022 09:15:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425178 Section 263 revision is not justified where the Assessing Officer has made specific enquiries, considered the assessee's explanation, and adopted one plausible view. The Tribunal noted that the land was sold by the secured lender under SARFAESI proceedings, so the assessee's sale consideration arose from a bank-driven sale process and the assumption that section 50C had been ignored was not enough to show error and prejudice to the Revenue. A mere difference of opinion, or a claim of inadequate enquiry rather than no enquiry, cannot sustain revision. The revisional order was therefore held unsustainable and was set aside. Case-Laws Income Tax Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425178