TMI Blog2014 (11) TMI 1179X X X X Extracts X X X X X X X X Extracts X X X X ..... y the assessing authority, there is no ground for interfering u/s 263 - also where the order passed by AO is not prejudicial to the interest of the revenue, the question of exercising the power under section 263 does not arise - Decided in favor of assessee. - ITA NO.771 OF 2009 - - - Dated:- 28-11-2014 - THE HON'BLE MR. JUSTICE N. KUMAR AND THE HON BLE MR. JUSTICE B. MANOHAR For the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... risdiction under Section 263 of the Income tax Act to revise such orders. The tribunal has recorded a categorical finding that the view taken by the assessing authority is one possible view. More importantly, a categorical finding is recorded that the order passed by him is not prejudicial to the interest of the revenue. If two views are possible, and merely because the revisional authority did no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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