https://www.taxtmi.com/caselaws?id=122227 The Tribunal held that the CIT's action under section 263 was not justified as the Assessing Officer's decision was based on various judicial pronouncements and was a possible view, making the order not erroneous. The Tribunal allowed the appeal of the assessee in ITA No. 328/Hyd./2006. The appeals in ITA Nos. 328/Hyd./2006 and 329/Hyd./2006 were allowed, while the appeals in ITA Nos. 1037/Hyd./2007, 1038/Hyd./2007, and 538/Hyd./2006 were partly allowed with directions for fresh consideration by the Assessing Officer on specific issues. en-us Wed, 26 May 2010 00:00:00 +0530 Tue, 12 Sep 2023 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122227 The Tribunal held that the CIT's action under section 263 was not justified as the Assessing Officer's decision was based on various judicial pronouncements and was a possible view, making the order not erroneous. The Tribunal allowed the appeal of the assessee in ITA No. 328/Hyd./2006. The appeals in ITA Nos. 328/Hyd./2006 and 329/Hyd./2006 were allowed, while the appeals in ITA Nos. 1037/Hyd./2007, 1038/Hyd./2007, and 538/Hyd./2006 were partly allowed with directions for fresh consideration by the Assessing Officer on specific issues. Case-Laws Income Tax Wed, 26 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122227