https://www.taxtmi.com/caselaws?id=334702 The High Court upheld the Tribunal's decision that the assessing officer's view allowing set off of losses between 100% export oriented units was valid under section 10B of the Income Tax Act. The Court confirmed that the Commissioner could not invoke jurisdiction under section 263 merely based on a disagreement with the assessing officer's decision, as long as it was a possible interpretation. The appeal was dismissed in favor of the assessee, ruling against the Revenue's contention that losses between units could not be set off. en-us Tue, 12 Jul 2016 00:00:00 +0530 Thu, 17 Nov 2016 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334702 The High Court upheld the Tribunal's decision that the assessing officer's view allowing set off of losses between 100% export oriented units was valid under section 10B of the Income Tax Act. The Court confirmed that the Commissioner could not invoke jurisdiction under section 263 merely based on a disagreement with the assessing officer's decision, as long as it was a possible interpretation. The appeal was dismissed in favor of the assessee, ruling against the Revenue's contention that losses between units could not be set off. Case-Laws Income Tax Tue, 12 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334702