https://www.taxtmi.com/caselaws?id=219507 The Tribunal ruled in favor of the assessee, setting aside the Commissioner's order passed under section 263. The decision was based on the principle that when two possible views exist, the one taken by the Assessing Officer should not be considered erroneous unless it is unsustainable in law, as per the precedent in Malabar Industrial Co. Ltd. The Tribunal affirmed that deduction under Section 10B should be allowed before setting off unabsorbed depreciation. en-us Mon, 23 Jul 2012 00:00:00 +0530 Fri, 12 Oct 2012 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219507 The Tribunal ruled in favor of the assessee, setting aside the Commissioner's order passed under section 263. The decision was based on the principle that when two possible views exist, the one taken by the Assessing Officer should not be considered erroneous unless it is unsustainable in law, as per the precedent in Malabar Industrial Co. Ltd. The Tribunal affirmed that deduction under Section 10B should be allowed before setting off unabsorbed depreciation. Case-Laws Income Tax Mon, 23 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219507