https://www.taxtmi.com/caselaws?id=444812 Section 263 revision could not be invoked where the assessment record already showed a specific enquiry by the Assessing Officer into the exemption claim on compensation for compulsory acquisition of land, supported by the award, notice, bank statement and Form 26AS. The Commissioner's view that further enquiry was required on the applicability of Fourth Schedule enactments and CBDT instructions was not backed by material showing that the acquisition fell within those enactments, and the order did not sufficiently establish prejudice to the Revenue. The assessee's exemption claim under section 96 of the 2013 Act was therefore outside the scope of valid revision, and the revisionary order was unsustainable. en-us Fri, 20 Oct 2023 00:00:00 +0530 Sat, 21 Oct 2023 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444812 Section 263 revision could not be invoked where the assessment record already showed a specific enquiry by the Assessing Officer into the exemption claim on compensation for compulsory acquisition of land, supported by the award, notice, bank statement and Form 26AS. The Commissioner's view that further enquiry was required on the applicability of Fourth Schedule enactments and CBDT instructions was not backed by material showing that the acquisition fell within those enactments, and the order did not sufficiently establish prejudice to the Revenue. The assessee's exemption claim under section 96 of the 2013 Act was therefore outside the scope of valid revision, and the revisionary order was unsustainable. Case-Laws Income Tax Fri, 20 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444812