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2015 (4) TMI 330 - AT - Income TaxRevision u/s 263 - three issues were taken up by the CIT, while revising the order of the AO determination of capital gains, computation of income from House Property and treatment of proportionate License fee written off - Held that:- The CIT has not only mentioned as to how the order were erroneous, but has also established, by giving convincing reasons, that it was prejudicial to interest of revenue. Thus, the twin conditions were satisfied. Reasons recorded by the CIT clearly show that capital gain was not determined as per the provisions of the Act and thus the order was erroneous and prejudicial to the interest of revenue. Similarly, he proved that other two issues were erroneous and adversely affected the interest of revenue. In case of writing off of proportionate license fee the CIT came across about eight agreements that were not considered by the AO and same had bearing on taxability of the assessee. Clearly, the CIT after considering the available material reached to certain conclusions .It is not a case where two views were possible and the AO had taken one of the possible views. It is also not a case where the CIT has not recorded reasons or has not given a finding that the order of the AO was liable to revisionary provisions on both counts i.e.it was not sustainable legally and it was prejudicial to the interest of revenue. He successfully established that there was non-application of mind as well as non examination of the details by the AO while framing assessment. In short, on the touch stone of the principles enumerated at paragraph no.9 of our order, the revisionary order passed by the CIT succeeds and hence we are of the opinion that it does not need any interference from us. - Decided against the assessee.
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