https://www.taxtmi.com/caselaws?id=448678 Section 263 revision was held unsustainable because the Assessing Officer had made enquiry into the taxability of interest received under section 28 of the Land Acquisition Act and accepted a plausible view that it formed part of enhanced compensation and was exempt. The Tribunal noted that the issue was debatable, that the assessment was not made without enquiry, and that an audit objection could not by itself establish error and prejudice. It also observed that a non-speaking dismissal of an SLP does not amount to approval of the High Court's reasoning. The assessee's appeal was allowed. en-us Wed, 24 Jan 2024 00:00:00 +0530 Fri, 26 Dec 2025 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448678 Section 263 revision was held unsustainable because the Assessing Officer had made enquiry into the taxability of interest received under section 28 of the Land Acquisition Act and accepted a plausible view that it formed part of enhanced compensation and was exempt. The Tribunal noted that the issue was debatable, that the assessment was not made without enquiry, and that an audit objection could not by itself establish error and prejudice. It also observed that a non-speaking dismissal of an SLP does not amount to approval of the High Court's reasoning. The assessee's appeal was allowed. Case-Laws Income Tax Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448678