https://www.taxtmi.com/caselaws?id=352859 The High Court upheld the decision of the Tribunal, dismissing the appeal by the revenue. The Court found that the order under section 263 of the Income Tax Act for the assessment year 2010-11 was not warranted as the assessee, a cooperative society, was entitled to deduction under section 80P. The Court emphasized that differing views between the Assessing Officer and Commissioner (Appeals) on the deduction did not render the order erroneous. It was held that as long as two plausible views exist, the order cannot be considered prejudicial to the revenue's interest. en-us Mon, 11 Dec 2017 00:00:00 +0530 Fri, 22 Dec 2017 08:10:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352859 The High Court upheld the decision of the Tribunal, dismissing the appeal by the revenue. The Court found that the order under section 263 of the Income Tax Act for the assessment year 2010-11 was not warranted as the assessee, a cooperative society, was entitled to deduction under section 80P. The Court emphasized that differing views between the Assessing Officer and Commissioner (Appeals) on the deduction did not render the order erroneous. It was held that as long as two plausible views exist, the order cannot be considered prejudicial to the revenue's interest. Case-Laws Income Tax Mon, 11 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352859