TMI Blog2004 (5) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... al by allowing the appeal of the assessee against the order passed by the Commissioner u/s 263 has recorded a finding that the computation made by the AO was in accordance with the view expressed by various Benches of the ITAT, which have been discussed in detail in the order itself. Thus, it has been observed that since the view taken by the Assessing Officer was a possible view, the Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year 1992-93 on December 29, 1992. Since the turn over of the assessee for the assessment year 1992-93 included exports, it had claimed deduction under section 80HHC of the Act at Rs. 1,33,09,439. The assessment was completed by the Assessing Officer on March 15, 1995, and deduction under section 80HHC of the Act was allowed as claimed by the assessee. However, on a perusal of the record, the Comm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer was in accordance with the view expressed by various Benches of the Income-tax Appellate Tribunal, which have been discussed in detail in the order itself. Thus, it has been observed that since the view taken by the Assessing Officer was a possible view, the Commissioner had no jurisdiction to exercise power under section 263 of the Act and treat the order to be erroneous in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the Tribunal was justified in holding that the view expressed by the Assessing Officer was a possible view and since the Assessing Officer has taken a possible view, the Commissioner had no jurisdiction to interfere by exercising his powers under section 263 of the Act. In this behalf, we may refer to the decision of the Supreme Court in Malabar Industrial Co. Ltd. v. CIT [2000] 243 ITR 83, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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