https://www.taxtmi.com/caselaws?id=61345 Interest on compensation arising from land acquisition was required to be taxed in the assessment years in which it accrued from year to year, rather than wholly in the year of receipt. The Tribunal followed its earlier ruling on the same issue and accepted the assessee's year-wise offer of the interest as correct. It also held that revisional jurisdiction could not be exercised merely to replace one possible view with another where the assessment was not shown to be erroneous and prejudicial to the revenue. On that basis, the order under section 263 was held unsustainable. en-us Fri, 31 Jan 1986 00:00:00 +0530 Wed, 12 Jan 2011 12:49:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61345 Interest on compensation arising from land acquisition was required to be taxed in the assessment years in which it accrued from year to year, rather than wholly in the year of receipt. The Tribunal followed its earlier ruling on the same issue and accepted the assessee's year-wise offer of the interest as correct. It also held that revisional jurisdiction could not be exercised merely to replace one possible view with another where the assessment was not shown to be erroneous and prejudicial to the revenue. On that basis, the order under section 263 was held unsustainable. Case-Laws Income Tax Fri, 31 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61345