https://www.taxtmi.com/caselaws?id=244874 The Tribunal set aside the revision order under section 263 of the Act for the assessment year 2009-10. It held that the assessing officer's view on the applicability of section 80P(4) was reasonable and legally supported, as the assessee was not a cooperative bank. The Tribunal emphasized that if two views are possible and the AO's view is not legally unsustainable, it cannot be deemed erroneous. Therefore, the appeal was allowed, and the revision order was overturned. en-us Wed, 26 Feb 2014 00:00:00 +0530 Tue, 11 Mar 2014 07:00:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244874 The Tribunal set aside the revision order under section 263 of the Act for the assessment year 2009-10. It held that the assessing officer's view on the applicability of section 80P(4) was reasonable and legally supported, as the assessee was not a cooperative bank. The Tribunal emphasized that if two views are possible and the AO's view is not legally unsustainable, it cannot be deemed erroneous. Therefore, the appeal was allowed, and the revision order was overturned. Case-Laws Income Tax Wed, 26 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244874