https://www.taxtmi.com/highlights?id=59801 Revision u/s 263 - Every loss of revenue as a consequence of an order of AO cannot be treated as prejudicial to the interests of the revenue, for example, when an Income-tax Officer adopted one of the courses permissible in law and it has resulted in loss of revenue; or where two views are possible and the Income-tax Officer has taken one view with which the Commissioner does not agree, it cannot be treated as an erroneous order prejudicial to the interests of the revenue unless the view taken by the Income-tax Officer is unsustainable in law - AT en-us Thu, 23 Sep 2021 14:44:13 +0530 Thu, 23 Sep 2021 14:44:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59801 Revision u/s 263 - Every loss of revenue as a consequence of an order of AO cannot be treated as prejudicial to the interests of the revenue, for example, when an Income-tax Officer adopted one of the courses permissible in law and it has resulted in loss of revenue; or where two views are possible and the Income-tax Officer has taken one view with which the Commissioner does not agree, it cannot be treated as an erroneous order prejudicial to the interests of the revenue unless the view taken by the Income-tax Officer is unsustainable in law - AT Highlights Income Tax Thu, 23 Sep 2021 14:44:13 +0530 https://www.taxtmi.com/highlights?id=59801