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2018 (8) TMI 1125 - ITAT MUMBAIRevision u/s 263 - PCIT observed that assessee has made irregular adjustments - deduction of interest expenses - capitalization of interest expenses in the cost of construction - Held that:- After considering the reply of the assessee the assessing officer disallowed net of the interest received - The assessing officer has adopted one of the courses permissible in law. Hence, the order may be prejudicial to the interest of revenue but not erroneous. Therefore, the twin condition as enunciated under section 263 is not fulfilled. - Decided in favor of assessee.
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