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2017 (9) TMI 1291 - AT - Income TaxRevision u/s 263 - deduction u/s 80IA(4) - Held that:- We are inclined to hold that the view taken by the AO, while granting deduction u/s 80IA(4) of the Act to the assessee, is reasonable and plausible which cannot be held as legally unsustainable and not in accordance with law and also being passed without application of mind. We, therefore, are of the considered opinion that the impugned notice and order of Ld. CIT is not valid and void ab initio. Since in the present case the order u/s 263 of the Act passed by the Principal CIT is based on the order for A.Y. 2009-10, the very essence of the said order has been decided by the Tribunal in assessee’s own case in favour of the assessee, therefore, the order u/s 263 of the Act passed by the Pr. CIT is set aside. Appeal of the assessee is allowed.
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