Pr. CIT Validly Uses Section 263 to Revise Erroneous Assessment, Protecting Revenue from Alleged Accommodation Entries.

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....Revision u/s 263 - allegation of accommodation entry taken - Pr. CIT has rightly exercised his jurisdiction under section 263 of the Act in setting aside the order of the Assessing Officer being erroneous in so far it is prejudicial to the interest of the Revenue....