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2016 (11) TMI 720 - HC - Income TaxRevision u/s 263 - Eligibility of benefit under section 10B - whether the order of the assessing officer is not erroneous and prejudicial to the interest of the Revenue? - Held that:- Reading of the order passed by the Tribunal shows that it has concluded that the view taken by the assessing officer is one of the possible views. The Tribunal arrived at this conclusion relying on the judgment of the Bombay High Court in Hindustan Unilever Limited v. Deputy Commissioner of Income Tax and Union of India [2010 (4) TMI 206 - BOMBAY HIGH COURT ] The view taken by the assessing officer allowing set off is one of the possible views. In such a case, having regard to the principles laid down by the Apex Court in its judgment in Malabar Industrial Co. Ltd. (2000 (2) TMI 10 - SUPREME Court ), the Commissioner could not have assumed jurisdiction under section 263 of the Act. Therefore, we confirm the order of the Tribunal.
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