2008 (2) TMI 977

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....atisfied with the grounds made in the petition for condonation of delay. Hence delay in filing the application is condoned. Accordingly, the application being G.A. No. 79 of 2008 is allowed. 2. Heard learned Counsel for the appellant. Perused the order passed by the Tribunal. It appears to us that the Tribunal dealt with the matter extensively and specifically stated as follows: "....

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.... considered opinion, the matter has no relevance since such claim was made by the assessee as per the order of the Hon'ble High Court and this fact was duly disclosed in the audited accounts and the AO after considering such material and after making the necessary enquiries passed the assessment order. The course adopted by the AO is certainly permissible in the law. Moreover, issue of advance wri....

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...., 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 interest of the revenue unless the view taken by the Income-Tax Officer is unsustainable....