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2010 (9) TMI 347 - DELHI HIGH COURT
Revision u/s 263 - Penalty - assessing officer accepted the explanation offered by the assessee. After so stating, the tribunal had further opined that the revenue could not point out any defect in the accounting system followed by the assessee in respect of the commission received by the assessee being shown in the books of accounts and the part of the same being passed on to the customers by the assessee by way of discounts and the net commission received by the assessee only being shown as income
Regarding Revision u/s 263 - Tribunal held that after assessing the detail furnished by assessee that the order passed by the A.O. under section 143(3) of the Act is neither erroneous nor prejudicial to the interests of Revenue and the order passed by Commissioner under section 263 of the Act is cancelled - Decided in favor of the assessee