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2020 (9) TMI 732 - HC - Income TaxRevision u/s 263 - deductions of notional expenses like depreciation and special deductions like Section 80IA - HELD THAT:- As M/S KHIVRAJ TECH PARK LTD. VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE II (4) , CHENNAI [2011 (2) TMI 1582 - ITAT CHENNAI] assessee was called upon to file necessary details, assessee had filed such details and the A.O. was in possession of all the relevant particulars regarding the lease income of the assessee which was a stop gap arrangement. In such a situation, we cannot say that the order of the A.O. was one without application of mind. AO thus having come to a lawful view after considering the details submitted by the assessee, we are of the opinion that the CIT was trying to substitute his view to the lawful view taken by the A.O. When two views are possible, and the A.O. has taken one view, we cannot say his order is erroneous as held in the case of CIT v. Max India Ltd. [2007 (11) TMI 12 - SUPREME COURT]. This is not a case where A.O. remained passive in the face of the return filed by the assessee but, on the other hand, had made further enquiries and passed the assessment after obtaining the reply of the assessee. We are of the opinion that in these circumstances, CIT fell in error in invoking provisions of section 263 of the Act, the twin conditions for invoking such powers having not been satisfied.
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