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2014 (11) TMI 352 - HC - Income TaxPower to invoke section 263 by Commissioner – Error of law appratent from record or not - Allowability of deduction @ 30% of annual rent u/s 24(a) – Held that:- The Tribunal held that the issue of rental income from the business center has been extensively examined, discussed and then adjudicated by the AO - As against the claim of that being income from house property and not business income, the AO has taken a view that it is assessable as income under the head house property - whether an income can be bifurcated as such and whether a rental income and income derived by providing certain services such as business center could be equated or not was prima facie debatable - whether the reliance placed by the AO on this judgment to arrive at the conclusion was well placed or whether he should have considered the matter in the light of the Special Bench decision is thus an aspect which has influenced the Tribunal in concluding that the ingredients of Section 263 are not satisfied - That is a possible view and which could have been taken - That the said view has been taken by itself was therefore not enough to invoke Section 263 is a conclusion reached - thus, there could be no reasons to state that the order is perverse or vitiated by an error of law apparent on the face of the record – Decided against revenue.
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