Held that the Assessing Officer not following the mandatory provisions of law would render the assessment order erroneous and amenable to the jurisdiction under section\u00a0263\u00a0of the Act. The contention of the assessee that it was agricultural land and did not come within the purview of section\u00a056(2)(vii)(b)\u00a0was not sustainable because whether the lands in question were agricultural was not pleaded either before the Assessing Officer or before the Principal Commissioner, the assessee himself had admitted the applicability of the provisions of section\u00a056(2)(vii)(b)\u00a0by submitting the valuation report, and an issue concluded against the assessee in the original assessment proceedings could not be agitated in revision proceedings.\u00a0 Revision is justified.(AY.2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Agricultural land-Assessing Officer accepting valuation report furnished by assessee-Failure to follow mandatory provisions of law-Revision is justified. [S. 50C, 56(2)(vii) (b)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-37257","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9GV","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=37257"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37257\/revisions"}],"predecessor-version":[{"id":37258,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37257\/revisions\/37258"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=37257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=37257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=37257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}