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2012 (10) TMI 354 - ITAT CHENNAIRevision Order by CIT(A) u/s 263 – Whether revision order u/s 263 sustainable in law, where two views are possible and AO has taken one view with which the CIT does not agree – Held that:- The order of AO cannot be treated as erroneous order prejudicial to the interest of the Revenue, unless the view taken by the AO is unsustainable in law. In this case treatment of depreciation may be erroneous but certainly not prejudicial to the interest of the Revenue, as the benefit of depreciation has not been claimed by both the companies at the same time. The depreciation statement placed on record by the assessee shows that both the companies have claimed benefit of depreciation on pro-rata basis. - Appeal decides in favour of assessee
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