https://www.taxtmi.com/caselaws?id=472316 Revisionary jurisdiction requires an assessment order to be both erroneous and prejudicial to Revenue interests. Where the Assessing Officer examines an exemption claim relating to interest awarded under the Land Acquisition Act on compulsory acquisition of agricultural land and adopts the Supreme Court-recognised treatment of section 28 interest as compensation, that view remains legally possible. Divergent judicial approaches to the post-amendment treatment of such interest under income-tax provisions prevent revision merely because another view is preferred. Revision under section 263 is therefore invalid when due inquiry was made and the assessment is neither erroneous nor prejudicial to Revenue interests. en-us Thu, 20 Jan 2022 00:00:00 +0530 Wed, 07 Oct 2026 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472316 Revisionary jurisdiction requires an assessment order to be both erroneous and prejudicial to Revenue interests. Where the Assessing Officer examines an exemption claim relating to interest awarded under the Land Acquisition Act on compulsory acquisition of agricultural land and adopts the Supreme Court-recognised treatment of section 28 interest as compensation, that view remains legally possible. Divergent judicial approaches to the post-amendment treatment of such interest under income-tax provisions prevent revision merely because another view is preferred. Revision under section 263 is therefore invalid when due inquiry was made and the assessment is neither erroneous nor prejudicial to Revenue interests. Case-Laws Income Tax Thu, 20 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472316