https://www.taxtmi.com/caselaws?id=787627 Section 263 revision could not be sustained where the Assessing Officer, while giving effect to the appellate remand, examined the valuation material, including the registered valuer's report and circle-rate data, and adopted one plausible view on fair market value for computing capital gains and business income under section 45(2). The revisional authority's preference for a DVO reference did not make the assessment erroneous, because the record showed due application of mind and no lack of inquiry. As revision under section 263 requires both error and prejudice to the Revenue, a mere difference of opinion on valuation was insufficient. en-us Fri, 06 Mar 2026 00:00:00 +0530 Tue, 10 Mar 2026 08:51:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787627 Section 263 revision could not be sustained where the Assessing Officer, while giving effect to the appellate remand, examined the valuation material, including the registered valuer's report and circle-rate data, and adopted one plausible view on fair market value for computing capital gains and business income under section 45(2). The revisional authority's preference for a DVO reference did not make the assessment erroneous, because the record showed due application of mind and no lack of inquiry. As revision under section 263 requires both error and prejudice to the Revenue, a mere difference of opinion on valuation was insufficient. Case-Laws Income Tax Fri, 06 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787627