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2014 (7) TMI 914 - HC - Income TaxCancellation of order u/s 263 – Held that:- The Tribunal was of the view that the basis or foundation for the order u/s 263 was completely lacking - this was not a blind acceptance of the version of the assessee, as is now termed - Such an order may be erroneous, according to the Commissioner, surely Section 263 could not have been invoked - since the Tribunal had rested its conclusion essentially on applicability of Section 263 of the Act and which cannot he held to be perverse or vitiated by any error of law apparent on the face of record that there is no merit in the Appeal – Decided against Revenue.
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