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2018 (11) TMI 1421 - AT - Income TaxRevision u/s 263 - payment of amount to cricket players - allowable business expenses - as per the payments to cricket players were made on account of fee for displaying of the assessee’s company’s logo which helped in improving the brand value of the company and, therefore, the AO had erred in allowing the entire expenditure rather than allowing 1/5 of the expenditure - Held that:- Relevant details and documents were furnished by the assessee during the assessment proceedings and forms part of the record. No inference can be drawn that the AO has not examined the issue although he has not expressed it in as many terms as may be considered appropriate by his superior authority and even if the same is found to be inadequate the same cannot be a ground for revision. It is clear that an order cannot be termed as erroneous unless it is not in accordance with law. This section does not visualize a case of substitution of the judgment of the Commissioner for that of the AO. Therefore, it cannot be held that in the instant case the AO’s order was erroneous and prejudicial to the interest of the revenue within the terms of section 263 of the Act. Once the impugned issue was considered and examined by the AO Commissioner cannot set aside the order without recording a contrary finding. - Decided in favour of assessee.
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