https://www.taxtmi.com/highlights?id=97021 Revision under section 263 challenged the validity of an exemption claim under section 54 on grounds that the assessing officer failed to examine supporting materials; tribunal found the AO had issued a specific query under section 142(1), the assessee uploaded conveyance deed and supporting evidence in response, and assessment followed that examination. Consequently the reassessment order under section 263 was not sustainable because the assessment was not shown to be erroneous or prejudicial where relevant details were on record and considered. Reliance was placed on prior judicial authority supporting that record-based examination negates the ground for revision. en-us Thu, 19 Feb 2026 14:14:01 +0530 Thu, 19 Feb 2026 14:14:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97021 Revision under section 263 challenged the validity of an exemption claim under section 54 on grounds that the assessing officer failed to examine supporting materials; tribunal found the AO had issued a specific query under section 142(1), the assessee uploaded conveyance deed and supporting evidence in response, and assessment followed that examination. Consequently the reassessment order under section 263 was not sustainable because the assessment was not shown to be erroneous or prejudicial where relevant details were on record and considered. Reliance was placed on prior judicial authority supporting that record-based examination negates the ground for revision. Highlights Income Tax Thu, 19 Feb 2026 14:14:01 +0530 https://www.taxtmi.com/highlights?id=97021