Tribunal held that when the AO had framed assessment under section 153A as per law and adopted one of courses permissible in law, then even if it had resulted in loss to revenue, said decision of AO could not be treated as erroneous and prejudicial to interest of revenue under section 263 of the Act. (AY. 2009-10)
Garg Brothers P. Ltd. v. Dy. CIT (2018) 64 ITR 25 (SN) (Kol.)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-AO framed assessment as per law-Even if it had resulted in loss to revenue, said decision of AO could not be treated as erroneous and prejudicial to interest of revenue. [S. 153A]