https://www.taxtmi.com/highlights?id=55815 Revision u/s 263 - PCIT is incorrect in coming to the conclusion that Assessing Officer has not examined the issue and applied his mind insofar as investments in fixed deposits - once the Assessing Officer has taken one of the two views permissible in law on which the PCIT does not agree and which resulted in loss of revenue, it cannot be treated as erroneous order prejudicial to the interests of the revenue, unless the view taken by the Assessing Officer is completely unsustainable in law. - AT en-us Wed, 09 Dec 2020 11:23:01 +0530 Wed, 09 Dec 2020 11:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55815 Revision u/s 263 - PCIT is incorrect in coming to the conclusion that Assessing Officer has not examined the issue and applied his mind insofar as investments in fixed deposits - once the Assessing Officer has taken one of the two views permissible in law on which the PCIT does not agree and which resulted in loss of revenue, it cannot be treated as erroneous order prejudicial to the interests of the revenue, unless the view taken by the Assessing Officer is completely unsustainable in law. - AT Highlights Income Tax Wed, 09 Dec 2020 11:23:01 +0530 https://www.taxtmi.com/highlights?id=55815