https://www.taxtmi.com/caselaws?id=775296 Revision under section 263 is not justified where the Assessing Officer has examined the issue, applied a plausible view, and the tax position remains debatable. The text explains that interest received under section 28 of the Land Acquisition Act, 1894 on enhanced compensation may be treated as an accretion to compensation and claimed exempt under section 10(37) of the Income-tax Act, rather than as ordinary interest income. Because the assessment record showed enquiry and the revision relied mainly on an audit objection and an alternative interpretation, the order could not be treated as erroneous and prejudicial to the Revenue. en-us Mon, 02 Jun 2025 00:00:00 +0530 Wed, 23 Jul 2025 08:29:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775296 Revision under section 263 is not justified where the Assessing Officer has examined the issue, applied a plausible view, and the tax position remains debatable. The text explains that interest received under section 28 of the Land Acquisition Act, 1894 on enhanced compensation may be treated as an accretion to compensation and claimed exempt under section 10(37) of the Income-tax Act, rather than as ordinary interest income. Because the assessment record showed enquiry and the revision relied mainly on an audit objection and an alternative interpretation, the order could not be treated as erroneous and prejudicial to the Revenue. Case-Laws Income Tax Mon, 02 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775296