https://www.taxtmi.com/caselaws?id=800593 Revision under Section 263 requires both an erroneous assessment order and prejudice to the Revenue; it cannot rest solely on a different view where the Assessing Officer has examined the supporting material and adopted a legally plausible view. Interest awarded under Section 28 of the Land Acquisition Act, 1894 is treated as an accretion to compensation for compulsory acquisition, rather than as separate interest. It therefore retains its capital-gains character and, where agricultural-land conditions are satisfied, qualifies for exemption under Section 10(37) instead of taxation as income from other sources. en-us Mon, 28 Sep 2026 00:00:00 +0530 Thu, 08 Oct 2026 08:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800593 Revision under Section 263 requires both an erroneous assessment order and prejudice to the Revenue; it cannot rest solely on a different view where the Assessing Officer has examined the supporting material and adopted a legally plausible view. Interest awarded under Section 28 of the Land Acquisition Act, 1894 is treated as an accretion to compensation for compulsory acquisition, rather than as separate interest. It therefore retains its capital-gains character and, where agricultural-land conditions are satisfied, qualifies for exemption under Section 10(37) instead of taxation as income from other sources. Case-Laws Income Tax Mon, 28 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800593