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2008 (9) TMI 508 - HC - Income TaxBook profit- Revision- This appeal by the Revenue is directed against the order passed by the Income-tax Appellate Tribunal. The assessee had preferred the appeal before the Tribunal being aggrieved by the order passed by the Commissioner Income-tax under section 263 of the Income-tax Act, 1961. The main ground urged before the Tribunal was that the Commissioner had erred in giving a direction to the Assessing Officer to recompute the income under section 115 JA (wrongly indicated as section 115JB in the impugned order) considering the impact of excess depreciation claimed by the assessee. Held that- (i) that the order passed by the Assessing Officer was not erroneous, which was one of the pre-condition for invoking jurisdiction under section 263 of the Act. Since it was not erroneous it could not have been termed to be prejudicial to the interest of the Revenue. The order of the Commissioner was set aside.
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