Held that there was no undisclosed turnover/receipts as alleged by the Assessing Officer on the basis of wrong figures shown in the service tax returns and the turnover declared in the Income-tax return was correct. Since the assessee was a Government contractor and the entire turnover and receipts were liable to deduction of tax at source, he had added the profit element embedded in the undisclosed receipts calculated at 8 per cent. to the total income of the assessee. The view taken by the Assessing Officer was a possible view and it was not permissible for the Principal Commissioner under section 263 to substitute his own view for the possible view taken by the Assessing Officer. Therefore, the order passed under section 263 was not sustainable. (AY.2015-16)