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Section 263 Revision: Deduction u/s 54B for Pre-Transfer Land Deemed Erroneous, Prejudicing Revenue's Interest. Revision Justified.

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....Revision u/s 263 - the eligibility of deduction u/s 54B in respect of land acquired prior to transfer of capital asset is clearly opposed to the plain provision of the Act - claim of deduction accepted by the AO is erroneous - Such error on the part of the AO has caused definite prejudice to the interest of the Revenue - revision justified....

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Section 263 Revision: Deduction u/s 54B for Pre-Transfer Land Deemed Erroneous, Prejudicing Revenue's Interest. Revision Justified.