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2015 (10) TMI 1750 - HC - Income TaxRevision u/s 263 - whether AO allowing deduction under Sections 36(1) (viia) (c) and 36 (1) (viii) in favour of the Assessee was erroneous as well as prejudicial to the interest of the Revenue? - Held that:- The Court is satisfied that in terms of the law explained by the Supreme Court in Malabar Industrial Co.Ltd. v. CIT (2000 (2) TMI 10 - SUPREME Court) as followed in CIT v. Honda Siel Power Products Ltd. (2010 (7) TMI 38 - HIGH COURT OF DELHI) the view taken by the AO in the present appeal is a possible one and there was no occasion for the CIT to have exercised jurisdiction under Section 263 of the Act. The impugned order of the ITAT therefore does not suffer from any legal infirmity. - Decided in favour of assessee.
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